PNC Financial Services Group Inc. lowered its stake in Nestlé S.A. (OTCMKTS:NSRGY – Get Rating) by 25.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,842 shares of the company’s stock after selling 1,304 shares during the period. PNC Financial Services Group Inc.’s holdings in Nestlé were worth $445,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NSRGY. Fisher Asset Management LLC increased its stake in Nestlé by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 5,326,947 shares of the company’s stock valued at $616,871,000 after acquiring an additional 68,179 shares during the period. Confluence Investment Management LLC lifted its holdings in Nestlé by 1.3% during the 4th quarter. Confluence Investment Management LLC now owns 1,093,055 shares of the company’s stock worth $126,073,000 after buying an additional 13,920 shares in the last quarter. Douglas Lane & Associates LLC lifted its stake in shares of Nestlé by 6.8% in the 4th quarter. Douglas Lane & Associates LLC now owns 757,702 shares of the company’s stock valued at $87,743,000 after purchasing an additional 48,367 shares during the period. Somerville Kurt F lifted its stake in shares of Nestlé by 0.6% in the 4th quarter. Somerville Kurt F now owns 149,842 shares of the company’s stock valued at $17,283,000 after purchasing an additional 843 shares during the period. Finally, Congress Asset Management Co. MA lifted its stake in shares of Nestlé by 2.5% in the 4th quarter. Congress Asset Management Co. MA now owns 90,003 shares of the company’s stock valued at $10,422,000 after purchasing an additional 2,189 shares during the period. Institutional investors and hedge funds own 0.97% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Royal Bank of Canada cut Nestlé from a “sector perform” rating to an “underperform” rating and decreased their price objective for the company from $100.00 to $95.00 in a report on Monday, March 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $121.60.
Nestlé Stock Performance
Shares of OTCMKTS:NSRGY opened at $120.67 on Monday. The firm’s fifty day moving average is $125.75 and its 200-day moving average is $120.78. The company has a current ratio of 0.88, a quick ratio of 0.50 and a debt-to-equity ratio of 1.01. Nestlé S.A. has a 52 week low of $102.78 and a 52 week high of $131.64.
About Nestlé
Nestlé SA is a nutrition, health, and wellness company, which engages in the manufacture, supply, and production of prepared dishes and cooking aids, milk-based products, pharmaceuticals and ophthalmic goods, baby foods, and cereals. The company products portfolio includes baby food, water, cereals, chocolate and confectionery, coffee, culinary, chilled, and frozen food, dairy, drinks, food service, healthcare nutrition, ice cream, and petcare.
See Also
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