Nestle SA (OTCMKTS:NSRGY) Shares Sold by Spinnaker Trust

Spinnaker Trust reduced its stake in Nestle SA (OTCMKTS:NSRGY - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,929 shares of the company's stock after selling 5,085 shares during the quarter. Spinnaker Trust's holdings in Nestle were worth $6,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NSRGY. Studio Investment Management LLC raised its position in Nestle by 2.9% in the fourth quarter. Studio Investment Management LLC now owns 3,990 shares of the company's stock valued at $326,000 after purchasing an additional 112 shares during the period. North Star Asset Management Inc. lifted its position in Nestle by 4.4% in the fourth quarter. North Star Asset Management Inc. now owns 5,429 shares of the company's stock valued at $444,000 after buying an additional 229 shares during the last quarter. Ancora Advisors LLC boosted its stake in Nestle by 0.3% during the fourth quarter. Ancora Advisors LLC now owns 74,685 shares of the company's stock worth $6,102,000 after buying an additional 239 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Nestle during the fourth quarter valued at about $26,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Nestle in the 4th quarter valued at approximately $33,000. 0.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on NSRGY. Morgan Stanley downgraded shares of Nestle from an "equal weight" rating to an "underweight" rating and set a $91.00 price target for the company. in a research note on Friday, April 4th. BNP Paribas cut Nestle from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada downgraded Nestle from an "outperform" rating to a "sector perform" rating in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $91.00.

Nestle Price Performance

Nestle stock traded up $0.52 during midday trading on Tuesday, reaching $99.84. The company's stock had a trading volume of 812,845 shares, compared to its average volume of 606,484. The business has a 50-day simple moving average of $104.33 and a 200-day simple moving average of $96.53. Nestle SA has a fifty-two week low of $80.11 and a fifty-two week high of $109.31. The company has a quick ratio of 0.51, a current ratio of 0.82 and a debt-to-equity ratio of 1.41.

About Nestle

Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone North America; Zone Europe; Zone Asia, Oceania, and Africa; Zone Latin America; Zone Greater China; Nespresso; and Nestlé Health Science segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, Vittel, Buxton, Erikli, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Smarties, Aero, Nestlé Les Recettes de l'Atelier, Milkybar, Baci Perugina, Quality Street, and Fitness brands.