Zacks Investment Research Upgrades Nestle (NSRGY) to Hold

Nestle (OTCMKTS:NSRGY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Nestle (OTCMKTS NSRGY) opened at $85.80 on Tuesday. Nestle has a 1-year low of $72.00 and a 1-year high of $89.40. The company has a current ratio of 0.79, a quick ratio of 0.53 and a debt-to-equity ratio of 0.18.

Several hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its holdings in Nestle by 9.3% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,831,524 shares of the company’s stock worth $153,866,000 after acquiring an additional 156,274 shares during the last quarter. Madison Investment Holdings Inc. raised its holdings in Nestle by 28.9% in the 3rd quarter. Madison Investment Holdings Inc. now owns 370,912 shares of the company’s stock worth $31,160,000 after acquiring an additional 83,054 shares during the last quarter. Confluence Investment Management LLC raised its holdings in Nestle by 2.0% in the 4th quarter. Confluence Investment Management LLC now owns 175,721 shares of the company’s stock worth $15,111,000 after acquiring an additional 3,529 shares during the last quarter. Sterling Capital Management LLC raised its holdings in Nestle by 1.2% in the 3rd quarter. Sterling Capital Management LLC now owns 84,802 shares of the company’s stock worth $7,108,000 after acquiring an additional 980 shares during the last quarter. Finally, Sit Investment Associates Inc. raised its holdings in Nestle by 8.4% in the 4th quarter. Sit Investment Associates Inc. now owns 68,825 shares of the company’s stock worth $5,917,000 after acquiring an additional 5,347 shares during the last quarter. Hedge funds and other institutional investors own 1.29% of the company’s stock.

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About Nestle

Nestle SA is a nutrition, health and wellness company. The Company’s segments are Zone Europe, Middle East and North Africa (EMENA); Zone Americas (AMS); Zone Asia, Oceania and sub-Saharan Africa (AOA); Nestle Waters; Nestle Nutrition, and Other Businesses. The Company operates in the United States, Greater China Region, Switzerland and Rest of the World.

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