Zacks Investment Research upgraded shares of Nestle (OTCMKTS:NSRGY) from a sell rating to a hold rating in a research note published on Thursday morning.

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. “

Shares of Nestle (NSRGY) opened at $86.09 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.79 and a debt-to-equity ratio of 0.18. Nestle has a twelve month low of $66.08 and a twelve month high of $89.40.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hikari Tsushin Inc. bought a new stake in Nestle in the 3rd quarter valued at about $539,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Nestle during the 3rd quarter worth approximately $224,000. Sterling Capital Management LLC lifted its holdings in shares of Nestle by 1.2% during 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 period. Griffin Asset Management Inc. lifted its holdings in shares of Nestle by 79.9% during the 3rd quarter. Griffin Asset Management Inc. now owns 29,286 shares of the company’s stock worth $2,460,000 after acquiring an additional 13,009 shares during the period. Finally, Madison Investment Holdings Inc. lifted its holdings in shares of Nestle by 28.9% during 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 period. 1.30% of the stock is owned by hedge funds and other institutional investors.

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Nestle Company Profile

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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