Kornitzer Capital Management Inc. KS Sells 44,538 Shares of Nestlé S.A. (OTCMKTS:NSRGY)

Kornitzer Capital Management Inc. KS lowered its holdings in Nestlé S.A. (OTCMKTS:NSRGY) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,950 shares of the company’s stock after selling 44,538 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Nestlé were worth $4,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Nestlé in the 3rd quarter valued at about $36,000. Thompson Investment Management Inc. bought a new stake in shares of Nestlé during the 4th quarter worth about $33,000. First Horizon Advisors Inc. boosted its holdings in shares of Nestlé by 251.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock worth $130,000 after buying an additional 922 shares during the period. Eagle Bay Advisors LLC bought a new stake in shares of Nestlé during the 3rd quarter worth about $365,000. Finally, Studio Investment Management LLC boosted its holdings in shares of Nestlé by 5.4% during the 3rd quarter. Studio Investment Management LLC now owns 3,878 shares of the company’s stock worth $390,000 after buying an additional 200 shares during the period. Institutional investors own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

NSRGY has been the subject of several research analyst reports. Morgan Stanley raised shares of Nestlé from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. BNP Paribas upgraded shares of Nestlé from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of Nestlé to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group cut shares of Nestlé from a “hold” rating to an “underperform” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nestlé presently has a consensus rating of “Hold”.

Nestlé Stock Down 0.5 %

Shares of Nestlé stock opened at $91.33 on Wednesday. Nestlé S.A. has a 12-month low of $80.11 and a 12-month high of $113.67. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.85 and a quick ratio of 0.52. The company’s 50-day moving average price is $83.88 and its 200-day moving average price is $92.46.

About Nestlé

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.