Sky Investment Group LLC Sells 1,487 Shares of Nestlé S.A. (OTCMKTS:NSRGY)

Sky Investment Group LLC reduced its stake in shares of Nestlé S.A. (OTCMKTS:NSRGY) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,357 shares of the company’s stock after selling 1,487 shares during the quarter. Nestlé comprises about 1.6% of Sky Investment Group LLC’s investment portfolio, making the stock its 21st biggest position. Sky Investment Group LLC’s holdings in Nestlé were worth $8,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wetzel Investment Advisors Inc. purchased a new position in shares of Nestlé during the 4th quarter worth about $69,000. First Horizon Advisors Inc. boosted its position in shares of Nestlé by 22.4% during the fourth quarter. First Horizon Advisors Inc. now owns 624 shares of the company’s stock valued at $72,000 after buying an additional 114 shares during the period. Vestor Capital LLC grew its stake in shares of Nestlé by 242.9% during the fourth quarter. Vestor Capital LLC now owns 1,334 shares of the company’s stock valued at $154,000 after buying an additional 945 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Nestlé in the first quarter worth approximately $220,000. Finally, Accent Capital Management LLC bought a new stake in shares of Nestlé during the 4th quarter worth approximately $241,000. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NSRGY has been the topic of several recent analyst reports. Berenberg Bank downgraded shares of Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft lowered shares of Nestlé from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Jefferies Financial Group upgraded Nestlé from an “underperform” rating to a “hold” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. downgraded Nestlé from an “overweight” rating to a “neutral” rating in a report on Thursday, May 23rd. Finally, UBS Group cut Nestlé from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Nestlé has a consensus rating of “Hold”.

Nestlé Stock Performance

Shares of Nestlé stock traded up $0.65 during trading on Wednesday, reaching $103.20. The company’s stock had a trading volume of 329,253 shares, compared to its average volume of 662,843. Nestlé S.A. has a 1-year low of $99.02 and a 1-year high of $122.22. The company has a 50-day simple moving average of $104.04 and a two-hundred day simple moving average of $105.23. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.26.

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.