PNC Financial Services Group Inc. Buys 577 Shares of Nestle SA (OTCMKTS:NSRGY)

PNC Financial Services Group Inc. boosted its holdings in shares of Nestle SA (OTCMKTS:NSRGY) by 16.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,001 shares of the company’s stock after purchasing an additional 577 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nestle were worth $405,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Nestle by 23,819.2% in the 1st quarter. GAMMA Investing LLC now owns 417,630 shares of the company’s stock worth $42,252,000 after acquiring an additional 415,884 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Nestle by 11.4% in the 1st quarter. Douglas Lane & Associates LLC now owns 983,326 shares of the company’s stock worth $99,294,000 after acquiring an additional 100,767 shares during the last quarter. Elefante Mark B acquired a new stake in shares of Nestle in the 4th quarter worth about $1,527,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Nestle in the 4th quarter worth about $822,000. Finally, Mengis Capital Management Inc. raised its holdings in shares of Nestle by 25.5% in the 1st quarter. Mengis Capital Management Inc. now owns 41,965 shares of the company’s stock worth $4,246,000 after acquiring an additional 8,520 shares during the last quarter. Institutional investors own 0.61% of the company’s stock.

Nestle Trading Down 0.4%

Shares of NSRGY stock opened at $89.24 on Friday. The company has a 50 day moving average of $96.46 and a 200-day moving average of $98.95. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.51 and a current ratio of 0.82. Nestle SA has a 12-month low of $80.11 and a 12-month high of $109.31.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded shares of Nestle from an “underperform” rating to a “hold” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.00.

Nestle Company 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.