Carret Asset Management LLC Sells 850 Shares of Nestlé S.A. (OTCMKTS:NSRGY)

Carret Asset Management LLC cut its holdings in shares of Nestlé S.A. (OTCMKTS:NSRGY) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,114 shares of the company’s stock after selling 850 shares during the period. Carret Asset Management LLC’s holdings in Nestlé were worth $2,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cullen Investment Group LTD. bought a new position in shares of Nestlé in the 4th quarter valued at $1,074,000. Douglas Lane & Associates LLC boosted its stake in shares of Nestlé by 3.7% during the first quarter. Douglas Lane & Associates LLC now owns 783,166 shares of the company’s stock valued at $83,255,000 after purchasing an additional 27,888 shares in the last quarter. Confluence Investment Management LLC acquired a new position in shares of Nestlé in the first quarter valued at approximately $111,100,000. Pacer Advisors Inc. raised its holdings in Nestlé by 0.8% in the 4th quarter. Pacer Advisors Inc. now owns 24,744 shares of the company’s stock valued at $2,861,000 after buying an additional 190 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA grew its holdings in Nestlé by 15.2% during the 4th quarter. Beach Investment Counsel Inc. PA now owns 191,115 shares of the company’s stock worth $22,099,000 after acquiring an additional 25,203 shares during the last quarter. Institutional investors own 0.61% of the company’s stock.

Nestlé Stock Performance

Shares of Nestlé stock traded up $0.93 during trading hours on Wednesday, reaching $102.39. The company’s stock had a trading volume of 367,132 shares, compared to its average volume of 507,075. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.26. The stock’s fifty day simple moving average is $104.25 and its two-hundred day simple moving average is $107.52. Nestlé S.A. has a one year low of $99.04 and a one year high of $125.41.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. downgraded Nestlé from an “overweight” rating to a “neutral” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Nestlé 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.