Nestle SA $NSRGY Stake Lowered by Forbes J M & Co. LLP

Forbes J M & Co. LLP reduced its stake in shares of Nestle SA (OTCMKTS:NSRGY) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,621 shares of the company’s stock after selling 533 shares during the period. Forbes J M & Co. LLP’s holdings in Nestle were worth $658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Douglass Winthrop Advisors LLC grew its holdings in shares of Nestle by 2.4% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 1,011,125 shares of the company’s stock valued at $102,296,000 after acquiring an additional 23,692 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Nestle by 23,819.2% in the first quarter. GAMMA Investing LLC now owns 417,630 shares of the company’s stock worth $42,252,000 after purchasing an additional 415,884 shares in the last quarter. Altrius Capital Management Inc boosted its holdings in Nestle by 3.5% in the first quarter. Altrius Capital Management Inc now owns 81,440 shares of the company’s stock worth $8,239,000 after purchasing an additional 2,753 shares in the last quarter. Ancora Advisors LLC boosted its holdings in Nestle by 0.9% in the first quarter. Ancora Advisors LLC now owns 75,388 shares of the company’s stock worth $7,627,000 after purchasing an additional 703 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Nestle by 6.7% in the first quarter. Rhumbline Advisers now owns 63,064 shares of the company’s stock worth $6,380,000 after purchasing an additional 3,964 shares in the last quarter. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

Nestle Stock Up 1.7%

NSRGY stock opened at $91.77 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.51 and a current ratio of 0.82. Nestle SA has a 52-week low of $80.11 and a 52-week high of $109.31. The company has a 50-day moving average of $91.22 and a two-hundred day moving average of $98.71.

Analysts Set New Price Targets

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

Nestle 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.