Dallas, Texas 09/20/2013 (Financialstrend) – Nestle SA Reg Shs. Ser. B Spons (ADR) (OTCMKTS:NSRGY) share has outperformed Dow Jones which was down 0.26% and consumer goods index which also was down by same percentage. This was on a day when US stocks took a day off to consolidate from the big gains it recorded couple of days back fuelled by Fed decision not to taper stimulus package for now. In the recent past the company has been trying to enter the nutrition and wellness markets with a slew of new offerings.
Nestle is the arguably the world’s biggest food company. It has a market capitalization of over $218 billion with over 3.2 billion shares outstanding. The company shares have risen 7% over the last 10 days. As of close of business on September 19, the share was trading at $69.78, a 0.78% increase over its previous day close. It is trading 5.6% below its prior 52 week high valuations and a little over 13% above its 52 weeks low pricing. Its average share traded volume was down to 691,954 in comparison to its 65 day average trade volume of 873,780.
In addition to its steady financial situation, the company is doing quite well over all .On September 12, the company released a press note announcing its elevation in the Dow Jones sustainability Index as the top food products company in the list. In its report the company has highlighted that it has cut by half its green house gas emission since 2002. The company has also set aggressive goals to cut down its green house gas emissions by over 30% by 2015.
On a separate note, the company announced an issue of bonds to raise $500 million on September3. These bonds have a maturity date of March’19 with a coupon rate of 2.25 pct. The company which is sitting on a cash chest of $4.1 billion as of June 30 has not specified where it plans to use the new funds which it is planning to raise through these bonds.
