|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||111.56 - 111.74|
|52 Week Range||84.09 - 114.87|
|Beta (5Y Monthly)||0.34|
|PE Ratio (TTM)||41.72|
|Forward Dividend & Yield||2.42 (2.20%)|
|Ex-Dividend Date||Apr 13, 2019|
|1y Target Est||119.36|
The majority of plastics used in food packaging are difficult to recycle and the supply of food-grade recycled plastics is limited. The company hopes to also find a solution to "close the loop" and make more plastics infinitely recyclable.
(Bloomberg) -- Nestle SA is introducing faux sausages to its meat-substitute lineup as competition for imitation meat spreads beyond burgers.The KitKat maker will start selling a pea protein-based sausage in the U.S. and a soy-based version in Europe this spring, the company said.The Swiss food giant joins rivals Impossible Foods Inc. and Beyond Meat Inc. in a race to offer plant-based meat alternatives after demand for vegan burgers exploded.“The burger was what you would call in the tech industry the killer app -- it got the whole plant-based trend running,” Chief Executive Officer Mark Schneider said at a media event in Zurich on Thursday. “But it’s not enough to just have a burger.”Nestle is also developing plant-based tuna for its first fish substitute, Chief Technology Officer Stefan Palzer said. The tuna product could be added to pizza, sushi or served as a patty, he added.The company already has a range of meat alternatives on the market, including grounds, nuggets and schnitzels. Grounds could be a bigger opportunity than burgers in Europe, Schneider said.While Impossible Foods and Beyond Meat’s products got picked up by restaurants and fast-food chains like Burger King and racing-driver Lewis Hamilton’s new Neat Burger chain, Nestle’s tie-up with McDonald’s is so far limited to Germany. But the Swiss food giant has the advantage of a vast distribution network, which means it can easily roll out new products across supermarkets.“There’s an overall opportunity in both in-home and out-of-home, and we’re committed to playing ball,” Schneider said. “In this space, we play to win.”To contact the reporter on this story: Corinne Gretler in Zurich at firstname.lastname@example.orgTo contact the editors responsible for this story: Eric Pfanner at email@example.com, Jonathan RoederFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Food giant Nestle will invest up to 2 billion Swiss francs ($2.07 billion) to source more recycled plastics for packaging its products and reduce its use of new plastics by a third by 2025, it said on Thursday. "We are high up on the list because we are one of the largest companies out there in packaged goods and now we're also taking pretty big steps in using our size to actually solve the problem," Chief Executive Mark Schneider told journalists. "At the moment, outside PET bottles, there's not a lot of recycled plastic available that is suitable for packaging food," Nestle Chief Technology Officer Stefan Palzer told Reuters on the sidelines of the event.
The Swiss food-and-beverage company said it plans to reduce its use of virgin plastics by one third by 2025 and source up to 2 million metric tons of food-grade recycled plastics
Moody's Investors Service has today downgraded the corporate family rating (CFR) of UK-based ice cream manufacturer Froneri International Limited (the company or Froneri) to B1 from Ba3 and its probability of default rating (PDR) to B1-PD from Ba3-PD. Concurrently, Moody's has assigned a B1 instrument rating to the proposed senior secured term loan and a B3 instrument rating for the proposed second lien term loan at a newly created Froneri Lux FinCo SARL and Froneri US, Inc. as well as B1 instrument rating to the new RCF at Froneri International Limited.
(Bloomberg) -- The U.S. Supreme Court signaled interest in giving companies a broader shield from lawsuits by victims of overseas atrocities, asking the Trump administration for advice on a case stemming from child slavery on cocoa farms in the Ivory Coast.Nestle SA’s U.S. unit and Cargill Inc. are urging the court to end a suit that accuses them of complicity in the use of forced child labor in the African country. The Supreme Court on Monday asked U.S. Solicitor General Noel Francisco to advise whether the justices should hear the companies’ appeals.The case would test a centuries-old law, the 1789 Alien Tort Statute, that had become a favorite tool of human-rights activists before the Supreme Court started scaling it back. The court ruled in 2013 that the law generally doesn’t apply beyond U.S. borders, and in 2018 that foreign corporations can’t be sued.But a federal appeals court said the allegations against Nestle and Cargill might have enough of a U.S. connection if the plaintiffs amended their lawsuit to provide more specifics.“The allegations paint a picture of overseas slave labor that defendants perpetuated from headquarters in the United States,” the San Francisco-based appeals court said.The case, filed by six former slaves who were kidnapped from their native Mali, has been moving up and down the federal court system since 2005. The companies are accused of aiding and abetting slave labor by giving Ivory Coast farmers financial assistance in the expectation that cocoa prices would stay low. The suit alleges the companies were fully aware that child slavery was being used.The ex-slaves say children were forced to work as much as 14 hours a day, given only scraps to eat, and were severely beaten or tortured if they tried to escape.In its appeal, Nestle USA said the plaintiffs “have not even alleged that their injuries can be traced to the domestic conduct of a defendant.” The company said it “unequivocally condemns child slavery.”Cargill said the plaintiffs “do not allege they worked on a farm from which Cargill purchased cocoa or to which Cargill provided any form of assistance.”Multinational companies have faced dozens of suits accusing them of playing a role in human rights violations, environmental wrongdoing and labor abuses.The cases are Nestle USA v. Doe, 19-416, and Cargill v. Doe, 19-453.To contact the reporter on this story: Greg Stohr in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Joe Sobczyk at email@example.com, Laurie Asséo, Ros KrasnyFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.
Mutual fund managers with a remit to invest in stocks across the globe are underweight one of the hottest stocks around.
The Australian small cap specializes in outdoor advertising. It is a holding of Oakmark International Small Cap Continue reading...
XPO Logistics Inc. (NYSE: XPO) Chairman and CEO Brad Jacobs has said the protracted decline in U.S. industrial production, which has shrunk the revenue streams of every less-than-truckload (LTL) carrier, will leave three types of LTL firms in its wake: the laggards that aren't able to counteract the revenue hits; middle-pack companies that will muddle through with difficulty; and the leaders with technological advancements that will make their operations more efficient and more valuable to their partners. Jacobs and his longtime CIO, Mario Harik, contend that the investments will provide shippers with more cost-effective services, strengthen the company's operating network and push out benefits to truckers and drivers who've never had an abundance of them. When industrial demand rebounds, XPO will be well positioned on multiple fronts to capture outsized market share of the LTL ecosystem, Jacobs and Harik reckon.
Swiss food giant Nestle said on Monday it had completed a 20 billion Swiss franc ($20.7 billion) share buyback programme and reiterated plans for a new one up to the same amount starting next year. Since July 4, 2017, Nestle said it had repurchased 225,186,059 of its shares at an average price per share of 88.82 Swiss francs. "Nestle will start a new share buyback program of up to CHF 20 billion as announced on Oct. 17, 2019," the company said in a statement.
Swiss food giant Nestle said on Monday it had completed a 20 billion Swiss franc ($20.7 billion) share buyback program and reiterated plans for a new one up to the same amount starting next year. Since July 4, 2017, Nestle said it had repurchased 225,186,059 of its shares at an average price per share of 88.82 Swiss francs. "Nestle will start a new share buyback program of up to CHF 20 billion as announced on Oct. 17, 2019," the company said in a statement.
(Bloomberg) -- After quietly supplying coffee addicts their daily fix for decades, Vietnam is preparing to take on Nestle SA and its Asian rivals to reach them faster.Instead of selling raw robusta beans to foreign companies for turning into instant coffee, Vietnam’s biggest supplier is preparing to offer its own soluble powder in early 2020. The shift is aimed at reaping more profit from Asia’s burgeoning demand for the quick-brewed beverage and to buffer the impact of large swings in international commodity prices.“We don’t want to miss a chance to jump on the bandwagon of instant coffee,” said Do Ha Nam, chairman of Intimex Group, which exports as much as a third of Vietnam’s robusta beans, the bitter-tasting variety that is mostly used to make instant coffee. “It brings more profit and less risk as it means we don’t have to rely on the price set by the London market.”Robusta futures traded in London have declined 11% in 2019 after slumping in three of the previous four years amid surging production from Vietnam, the world’s top producer and exporter. The country’s coffee industry sees the expansion into domestic instant-coffee production as a more lucrative growth proposition than simply continuing to plant more trees.India will lead growth in the retail market for instant coffee in Asia, increasing almost 12% a year to top $850 million in 2024, according to Euromonitor International. The market researcher projects strong growth also in Indonesia, Malaysia, Philippines, Thailand and Vietnam.Booming Market“Asia is the world’s fastest-growing coffee-consuming region, where many consumers are still starting to build up a coffee-drinking habit,” said Jose Sette, head of the International Coffee Organization in London.Instant coffee is an ideal way to introduce the beverage to these consumers because of its ease of preparation, he said in an email. “Vietnam can take advantage of its geographical position and low production costs to expand within the region.”Ho Chi Minh City-based Intimex, which was a state-owned company before being sold to private investors in 2006, aims to overtake Nestle as Vietnam’s biggest pure instant-coffee supplier in the next five years by expanding annual capacity fivefold to 20,000 tons.‘Competing Fiercely’Nestle, the Vevey, Switzerland-based maker of Nescafe, will compete with both local and international companies by “leveraging our scale of size, our expertise in technology and manufacturing, with more than 75 years of experience in coffee, and by growing together with Vietnamese coffee farmers,” said Ganesan Ampalavanar, general director of Nestle Vietnam.“There are many small and medium-sized companies that are very focused and that are competing fiercely with big players and competition is strengthening the category,” he said.$6 Billion BusinessVietnam aims to double the value of its annual coffee exports to $6 billion in the next decade, according to Nguyen Do Anh Tuan, head of the agriculture ministry’s international cooperation department.The plan includes increasing the volume of green beans used in the intensive coffee-processing sector to 30%-to-40% of the country’s total output from the current 10%, leaving a smaller quantity available for export as unroasted, green beans.Vietnam shipped 1.56 million tons of coffee, including more than 36,000 tons of processed coffee, in the 2018-19 season that ended Sept. 30, a Bloomberg analysis of Customs data show.Domestic roasters and soluble plants are slated to use more than 500,000 tons of green beans annually in the next three years, 40% more than what’s currently consumed, said Le Tien Hung, CEO of the second-largest exporter Simexco Dak Lak.Olam, TataVietnam has the capacity to make as much as 58,500 tons of instant coffee a year from nine plants, according to data compiled by Bloomberg News.Factories invested by Nestle, Olam International Ltd., Tata Group and CCL Products India Ltd. make up about 70% of the total. Capacity is poised to increase by at least 40,000 tons in the next five years with new investment and planned expansions from both local and multinational companies.“These factories certainly will influence demand in the local market,” said Alex Gruber, chairman of Master Roasters Services Saigon Ltd., adding that they will be able to pay higher prices because of the extra value they have created.\--With assistance from Corinne Gretler.To contact the reporter on this story: Mai Ngoc Chau in Ho Chi Minh City at firstname.lastname@example.orgTo contact the editors responsible for this story: Michael Patterson at email@example.com, ;Anna Kitanaka at firstname.lastname@example.org, Jason Gale, James PooleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
We at Insider Monkey have gone over 752 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of September 30th. In this article, we look at what those funds think of Nestle SA (OTCMKTS:NSRGY) based on that data. […]
Nestlé-owned Blue Bottle Coffee has replaced the plastic cups it was using for iced coffee with white paper sugarcane cups.
Investing.com -- Boris Johnson abruptly ends his honeymoon with the markets by reviving the threat of a no-deal Brexit at the end of the year, FedEx reports earnings a day after being spurned by Amazon and housing starts data for November will show the reality behind record-breaking levels of confidence among homebuilders. Plus Boeing's decision to halt production of the 737 MAX hits aerospace suppliers around the world. Here's what you need to know in financial markets on Tuesday, 17th December.
Starbucks Corp. and ally Nestle S.A. said Monday they were adding the Starbucks Toffeenut Creamer to their grocery-store offerings. The creamer, which will be rolled out in January 2020, is inspired by the Toffeenut Latte available in Starbucks's cafes and has the flavor of roasted nuts. The Toffeenut Creamer joins Starbucks's other flavored creamer offerings including Caramel Macchiato, White Chocolate Mocha and Cinnamon Dolce. Starbucks's stock rose 0.3% in afternoon trading, which puts it on track to close at the highest price since Sept. 26. It has run up 38% year to date, while SPDR Consumer Discretionary Select Sector ETF has rallied 25% and the S&P 500 has climbed 27%.
America's stock market ran wild in 2019, putting up a far-above-average year despite trade skirmishes, global economic sluggishness and political tumult. That's great for those already invested in stocks, but anyone with new money to spend is left looking at a lot of overvalued equities with severely depressed yields.One solution? Peer over the Atlantic and seek out European Dividend Aristocrats.You're certainly familiar with the S&P; Dividend Aristocrats - 57 dividend stocks that have raised their payouts for 25 or more years. Well, the European Dividend Aristocrats are of a similar vein. To qualify as European payout royalty, a company needs to show only 10 or more years of stable or increasing dividends. But these companies also provide investors with diversification and much more reasonable valuation than many of their American brethren.Another perk: European Dividend Aristocrats yield more - substantially more. As of this writing, they collectively yield 3.2%, versus 1.9% for the S&P; Dividend Aristocrats.Read on to explore all 41 European Dividend Aristocrats. SEE ALSO: The 20 Best Stocks to Buy for 2020