Spinnaker Trust Sells 2,101 Shares of Nestlé S.A. (OTCMKTS:NSRGY)

Spinnaker Trust trimmed its stake in Nestlé S.A. (OTCMKTS:NSRGY) by 2.8% in the third quarter, HoldingsChannel reports. The firm owned 71,685 shares of the company’s stock after selling 2,101 shares during the period. Spinnaker Trust’s holdings in Nestlé were worth $7,220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hemenway Trust Co LLC boosted its stake in shares of Nestlé by 2.7% in the 1st quarter. Hemenway Trust Co LLC now owns 257,164 shares of the company’s stock worth $27,311,000 after buying an additional 6,670 shares during the last quarter. Broderick Brian C grew its position in shares of Nestlé by 4.6% during the 1st quarter. Broderick Brian C now owns 102,949 shares of the company’s stock valued at $10,933,000 after acquiring an additional 4,520 shares during the period. ORG Partners LLC lifted its position in shares of Nestlé by 15,617.6% during the 1st quarter. ORG Partners LLC now owns 2,672 shares of the company’s stock valued at $283,000 after buying an additional 2,655 shares during the last quarter. Henry James International Management Inc. grew its stake in shares of Nestlé by 89.6% during the 1st quarter. Henry James International Management Inc. now owns 23,471 shares of the company’s stock worth $2,493,000 after acquiring an additional 11,093 shares during the period. Finally, Councilmark Asset Management LLC bought a new stake in Nestlé in the 1st quarter valued at about $640,000. 0.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NSRGY. Citigroup downgraded Nestlé from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Jefferies Financial Group upgraded Nestlé from an “underperform” rating to a “hold” rating in a research report on Wednesday, July 31st. Barclays reissued an “equal weight” rating on shares of Nestlé in a report on Monday, September 9th. UBS Group lowered shares of Nestlé from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. Finally, Berenberg Bank lowered shares of Nestlé from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Nestlé Trading Down 1.2 %

OTCMKTS:NSRGY traded down $1.12 during midday trading on Wednesday, reaching $93.45. 2,195,048 shares of the stock traded hands, compared to its average volume of 767,562. Nestlé S.A. has a 12 month low of $93.39 and a 12 month high of $117.55. The company has a fifty day moving average of $100.02 and a 200 day moving average of $102.47.

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.