Boston Financial Mangement LLC cut its position in Nestle SA (OTCMKTS:NSRGY) by 15.0% during the third quarter, Holdings Channel reports. The firm owned 9,088 shares of the company’s stock after selling 1,600 shares during the period. Boston Financial Mangement LLC’s holdings in Nestle SA were worth $718,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. FTB Advisors Inc. increased its stake in shares of Nestle SA by 3.5% in the second quarter. FTB Advisors Inc. now owns 1,572 shares of the company’s stock valued at $120,000 after buying an additional 53 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new stake in shares of Nestle SA during the second quarter valued at approximately $150,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Nestle SA during the third quarter valued at approximately $203,000. Advisor Partners LLC bought a new stake in shares of Nestle SA during the second quarter valued at approximately $219,000. Finally, HighPoint Advisor Group LLC increased its stake in shares of Nestle SA by 46.0% in the second quarter. HighPoint Advisor Group LLC now owns 3,443 shares of the company’s stock valued at $273,000 after buying an additional 1,085 shares during the last quarter. Institutional investors own 1.57% of the company’s stock.
Nestle SA (OTCMKTS:NSRGY) traded up 2.54% on Friday, reaching $68.31. The company had a trading volume of 179,289 shares. Nestle SA has a one year low of $66.40 and a one year high of $83.25. The company has a 50-day moving average of $72.68 and a 200 day moving average of $76.40. The stock has a market cap of $210.74 billion, a price-to-earnings ratio of 24.34 and a beta of 0.73.
NSRGY has been the subject of a number of recent analyst reports. Goldman Sachs Group Inc. upgraded Nestle SA from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 13th. Deutsche Bank AG upgraded Nestle SA from a “hold” rating to a “buy” rating in a research report on Friday, September 9th. Zacks Investment Research upgraded Nestle SA from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Saturday, August 27th. Societe Generale upgraded Nestle SA from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Finally, RBC Capital Markets reiterated a “top pick” rating on shares of Nestle SA in a research report on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $89.00.
About Nestle SA
Nestle SA is a nutrition, health and wellness company. The Company’s segments are Zone Europe, Middle East and North Africa (EMENA); Zone Americas (AMS); Zone Asia, Oceania and sub-Saharan Africa (AOA); Nestle Waters; Nestle Nutrition, and Other Businesses. The Company’s product categories include powered and liquid beverages; water; milk products and ice cream; nutrition and health science; confectionery, and PetCare.
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