Short Interest in Nestle SA (OTCMKTS:NSRGY) Declines By 28.7%

Key Points

• Short interest in Nestle SA decreased by 28.7% in August, with a total of 101,900 shares short sold.
• Institutional investors have significantly increased their holdings in Nestle, with GAMMA Investing LLC alone raising its position by 23,819.2%.
• Analysts have upgraded Nestle from "underperform" to "hold," with a consensus price target of $91.00.

Nestle SA (OTCMKTS:NSRGY - Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 101,900 shares, a drop of 28.7% from the August 15th total of 142,900 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 916,100 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 916,100 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in Nestle by 23,819.2% in the first quarter. GAMMA Investing LLC now owns 417,630 shares of the company's stock valued at $42,252,000 after purchasing an additional 415,884 shares during the period. Douglas Lane & Associates LLC raised its position in Nestle by 11.4% in the first quarter. Douglas Lane & Associates LLC now owns 983,326 shares of the company's stock valued at $99,294,000 after purchasing an additional 100,767 shares during the period. Douglass Winthrop Advisors LLC raised its position in Nestle by 2.4% in the first quarter. Douglass Winthrop Advisors LLC now owns 1,011,125 shares of the company's stock valued at $102,296,000 after purchasing an additional 23,692 shares during the period. Azimuth Capital Investment Management LLC raised its position in Nestle by 79.7% in the first quarter. Azimuth Capital Investment Management LLC now owns 47,430 shares of the company's stock valued at $4,789,000 after purchasing an additional 21,036 shares during the period. Finally, Mengis Capital Management Inc. raised its position in Nestle by 25.5% in the first quarter. Mengis Capital Management Inc. now owns 41,965 shares of the company's stock valued at $4,246,000 after purchasing an additional 8,520 shares during the period. 0.61% of the stock is owned by hedge funds and other institutional investors.

Nestle Price Performance

Shares of Nestle stock opened at $90.64 on Tuesday. Nestle has a twelve month low of $80.11 and a twelve month high of $109.31. The firm's 50-day moving average price is $92.67 and its 200 day moving average price is $99.49. The company has a quick ratio of 0.51, a current ratio of 0.82 and a debt-to-equity ratio of 1.41.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Nestle from an "underperform" rating to a "hold" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $91.00.

Nestle Company Profile

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.

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