Nestlé S.A. (OTCMKTS:NSRGY) Sees Significant Drop in Short Interest

Nestlé S.A. (OTCMKTS:NSRGYGet Rating) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 24,400 shares, a decline of 49.0% from the March 31st total of 47,800 shares. Based on an average daily volume of 530,400 shares, the short-interest ratio is currently 0.0 days.

Several analysts have recently commented on NSRGY shares. Royal Bank of Canada raised their price target on Nestlé from CHF 96 to CHF 98 and gave the company a “sector perform” rating in a report on Friday, April 22nd. Zacks Investment Research upgraded shares of Nestlé from a “sell” rating to a “hold” rating in a research report on Thursday, March 31st. Jefferies Financial Group downgraded shares of Nestlé from a “hold” rating to an “underperform” rating in a research report on Wednesday, January 5th. Morgan Stanley lowered their price target on Nestlé from CHF 140 to CHF 135 in a report on Wednesday, February 23rd. Finally, Exane BNP Paribas raised Nestlé from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from CHF 132 to CHF 135 in a report on Monday, March 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $110.80.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Somerville Kurt F increased its stake in Nestlé by 0.5% in the third quarter. Somerville Kurt F now owns 165,506 shares of the company’s stock valued at $19,895,000 after purchasing an additional 761 shares during the last quarter. Cheviot Value Management LLC increased its stake in shares of Nestlé by 2.4% during the 3rd quarter. Cheviot Value Management LLC now owns 4,920 shares of the company’s stock valued at $591,000 after acquiring an additional 115 shares during the last quarter. Yousif Capital Management LLC purchased a new position in shares of Nestlé during the 4th quarter worth about $6,200,000. Sustainable Growth Advisers LP boosted its position in shares of Nestlé by 0.7% in the third quarter. Sustainable Growth Advisers LP now owns 59,722 shares of the company’s stock worth $7,179,000 after acquiring an additional 397 shares during the last quarter. Finally, Windward Capital Management Co. CA increased its holdings in shares of Nestlé by 18.7% during the 4th quarter. Windward Capital Management Co. CA now owns 37,700 shares of the company’s stock worth $5,273,000 after buying an additional 5,943 shares during the last quarter. 0.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Nestlé stock traded down $1.17 during mid-day trading on Friday, hitting $128.64. 184,144 shares of the stock were exchanged, compared to its average volume of 251,718. Nestlé has a twelve month low of $117.99 and a twelve month high of $141.95. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.98 and a quick ratio of 0.68. The company has a 50-day simple moving average of $128.54 and a 200 day simple moving average of $130.72.

Nestlé Company Profile (Get Rating)

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; and Zone Asia, Oceania and sub-Saharan Africa segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, 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.

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