Matrix Asset Advisors highlighted Nestlé S.A. (OTC:NSRGY) in its Q3 2024 investor letter, noting the company's strong market presence in various food sectors and a history of consistent earnings growth and dividend increases. Despite a significant share price decline from $140 to below $100, attributed to temporary factors, the firm believes the stock is undervalued. Currently, Nestlé is held by four hedge funds, but the firm expresses a stronger conviction in AI stocks for higher returns in the near term.