Somerville Kurt F Takes Position in Nestle SA $NSRGY

Key Points

• Somerville Kurt F initiated a position in Nestlé during the second quarter, purchasing 20,171 shares valued at approximately $2.07 million.
• Several other institutional investors also increased or initiated holdings, although institutional ownership remains relatively low at 0.61% of outstanding shares.
• Nestlé shares opened at $99.21, near their 50-day and 200-day moving averages. Analyst opinions are mixed, resulting in a consensus “Hold” rating.

Somerville Kurt F bought a new stake in Nestle SA (OTCMKTS:NSRGY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,171 shares of the company's stock, valued at approximately $2,071,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in Nestle by 73.6% in the 1st quarter. Sterling Capital Management LLC now owns 349 shares of the company's stock valued at $34,000 after acquiring an additional 148 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Nestle during the 4th quarter worth approximately $47,000. Sfam LLC bought a new stake in shares of Nestle during the fourth quarter valued at approximately $74,000. Cascades Capital Asset Management LLC bought a new stake in shares of Nestle during the fourth quarter valued at approximately $101,000. Finally, Lummis Asset Management LP raised its stake in shares of Nestle by 6.9% in the fourth quarter. Lummis Asset Management LP now owns 1,781 shares of the company's stock valued at $177,000 after purchasing an additional 115 shares in the last quarter. 0.61% of the stock is currently owned by institutional investors.

Nestle Stock Performance

Nestle stock opened at $99.21 on Thursday. The business has a 50 day simple moving average of $101.15 and a 200 day simple moving average of $100.71. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.47 and a current ratio of 0.79. Nestle SA has a one year low of $88.47 and a one year high of $109.59.

Wall Street Analyst Weigh In

NSRGY has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Nestle in a research note on Friday, April 24th. Jefferies Financial Group upgraded shares of Nestle from a "hold" rating to a "buy" rating in a research note on Tuesday, July 21st. Morgan Stanley reiterated an "underweight" rating on shares of Nestle in a research report on Thursday, July 2nd. Finally, Erste Group Bank raised shares of Nestle from a "hold" rating to a "buy" rating in a research note on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

About Nestle

Nestlé SA is a Swiss multinational food and beverage company headquartered in Vevey, Switzerland. Founded in 1866 by Henri Nestlé, the company has grown into a global consumer goods firm and its American depositary receipts trade in the United States under the OTCMKTS ticker NSRGY. Nestlé operates across a broad range of food and beverage categories and is widely recognized for its portfolio of consumer-facing brands and products.

The company's main business activities include the manufacture, marketing and distribution of products in categories such as coffee and other beverages, bottled water, dairy and infant nutrition, prepared meals and culinary products, confectionery, and pet care.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source