Forbes J M & Co. LLP Sells 2,218 Shares of Nestlé S.A. (OTCMKTS:NSRGY)

Forbes J M & Co. LLP trimmed its position in shares of Nestlé S.A. (OTCMKTS:NSRGY) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,419 shares of the company’s stock after selling 2,218 shares during the period. Forbes J M & Co. LLP’s holdings in Nestlé were worth $6,485,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NSRGY. 1620 Investment Advisors Inc. purchased a new position in Nestlé in the 2nd quarter worth approximately $134,000. Front Row Advisors LLC increased its stake in Nestlé by 421.4% in the 2nd quarter. Front Row Advisors LLC now owns 2,336 shares of the company’s stock worth $239,000 after purchasing an additional 1,888 shares during the period. GAMMA Investing LLC increased its stake in Nestlé by 61.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,482 shares of the company’s stock worth $254,000 after purchasing an additional 949 shares during the period. Lee Danner & Bass Inc. purchased a new position in Nestlé in the 2nd quarter worth approximately $262,000. Finally, Burke & Herbert Bank & Trust Co. purchased a new position in Nestlé in the 2nd quarter worth approximately $265,000. 0.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NSRGY. Deutsche Bank Aktiengesellschaft cut Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Barclays reissued an “equal weight” rating on shares of Nestlé in a research note on Monday, September 9th. Morgan Stanley cut Nestlé from an “equal weight” rating to an “underweight” rating in a research note on Monday, September 16th. Royal Bank of Canada raised Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group upgraded Nestlé from an “underperform” rating to a “hold” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Nestlé Trading Down 0.4 %

Shares of OTCMKTS:NSRGY traded down $0.37 during midday trading on Monday, reaching $97.36. 381,200 shares of the company’s stock traded hands, compared to its average volume of 757,487. The stock has a 50 day moving average of $101.31 and a 200 day moving average of $102.82. Nestlé S.A. has a one year low of $96.36 and a one year high of $117.55.

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.