According to Zacks, “Nestle is the world’s #1 food company and the world leader in coffee (Nescafe), mineral water (Perrier), and ophthalmology products. Among its more than 8,500 products are Alpo dog food, Baby Ruth and Butterfinger candy bars, Carnation evaporated and condensed milk, Coffee-Mate coffee creamer, Kix breakfast cereals, Nestle Quik chocolate drink mix, Stouffer’s frozen dinners, and Toll House morsels. “
A number of other brokerages have also recently commented on NSRGY. ValuEngine cut NESTLE S A/S from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Deutsche Bank lowered NESTLE S A/S from a buy rating to a hold rating in a report on Monday, September 9th. Finally, Royal Bank of Canada cut NESTLE S A/S from a sector perform rating to an underperform rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $108.00.
Hedge funds have recently made changes to their positions in the stock. Bartlett & Co. LLC raised its holdings in NESTLE S A/S by 507.2% during the 3rd quarter. Bartlett & Co. LLC now owns 365,309 shares of the company’s stock valued at $39,599,000 after acquiring an additional 305,145 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of NESTLE S A/S by 7.3% in the second quarter. Parametric Portfolio Associates LLC now owns 2,750,826 shares of the company’s stock worth $284,435,000 after acquiring an additional 187,831 shares during the period. Fisher Asset Management LLC grew its position in shares of NESTLE S A/S by 3.8% in the second quarter. Fisher Asset Management LLC now owns 3,537,918 shares of the company’s stock valued at $366,710,000 after purchasing an additional 128,049 shares in the last quarter. Mogy Joel R Investment Counsel Inc. purchased a new position in shares of NESTLE S A/S in the third quarter valued at $12,259,000. Finally, Schafer Cullen Capital Management Inc grew its position in shares of NESTLE S A/S by 10.6% in the second quarter. Schafer Cullen Capital Management Inc now owns 740,001 shares of the company’s stock valued at $76,094,000 after purchasing an additional 70,691 shares in the last quarter. Institutional investors own 1.30% of the company’s stock.
About NESTLE S A/S
Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone Europe, Middle East and North Africa; Zone Americas; Zone Asia, Oceania and sub-Saharan Africa; and Nestlé Waters segments. It offers baby foods under the Cerelac, Gerber, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, Poland Spring, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Nestle L'atelier, Nestle Toll House, Milkybar, Smarties, Quality Street, Aero, Garoto, Orion, and Cailler brands.
Further Reading: Consumer behavior in bull markets
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