First Manhattan CO. LLC. Cuts Stock Position in Nestle SA $NSRGY

First Manhattan CO. LLC. cut its holdings in Nestle SA (OTCMKTS:NSRGY) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 727,782 shares of the company’s stock after selling 22,506 shares during the quarter. First Manhattan CO. LLC.’s holdings in Nestle were worth $71,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NSRGY. IHT Wealth Management LLC bought a new position in Nestle in the 2nd quarter valued at approximately $213,000. PNC Financial Services Group Inc. lifted its position in Nestle by 10.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,363 shares of the company’s stock valued at $400,000 after acquiring an additional 418 shares in the last quarter. Studio Investment Management LLC lifted its position in Nestle by 4.4% in the 3rd quarter. Studio Investment Management LLC now owns 4,404 shares of the company’s stock valued at $404,000 after acquiring an additional 187 shares in the last quarter. Accent Capital Management LLC lifted its position in Nestle by 4.6% in the 3rd quarter. Accent Capital Management LLC now owns 2,345 shares of the company’s stock valued at $215,000 after acquiring an additional 104 shares in the last quarter. Finally, Beddow Capital Management Inc. lifted its position in Nestle by 6.6% in the 3rd quarter. Beddow Capital Management Inc. now owns 73,734 shares of the company’s stock valued at $6,767,000 after acquiring an additional 4,544 shares in the last quarter. 0.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NSRGY has been the topic of several analyst reports. Morgan Stanley reaffirmed an “underweight” rating on shares of Nestle in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Nestle in a research report on Friday, April 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Nestle in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nestle currently has an average rating of “Hold”.

Nestle Stock Down 1.8%

OTCMKTS NSRGY opened at $98.25 on Thursday. The business’s fifty day moving average price is $99.67 and its 200-day moving average price is $99.21. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.79 and a quick ratio of 0.47. Nestle SA has a 1-year low of $86.98 and a 1-year high of $109.59.

Nestle Profile

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.