Nestlé S.A. (OTCMKTS:NSRGY) Given Average Rating of “Reduce” by Analysts

Shares of Nestlé S.A. (OTCMKTS:NSRGY) have received an average rating of “Reduce” from the ten research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company.

A number of analysts recently weighed in on NSRGY shares. Berenberg Bank lowered shares of Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group upgraded shares of Nestlé from an “underperform” rating to a “hold” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada upgraded shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Finally, Citigroup lowered shares of Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd.

Nestlé Price Performance

Shares of NSRGY opened at $97.73 on Friday. Nestlé has a 1 year low of $96.36 and a 1 year high of $117.55. The company’s 50-day simple moving average is $101.52 and its 200-day simple moving average is $102.90.

Hedge Funds Weigh In On Nestlé

Several hedge funds have recently added to or reduced their stakes in the stock. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Nestlé by 0.5% in the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 24,096 shares of the company’s stock valued at $2,459,000 after purchasing an additional 113 shares during the last quarter. Violich Capital Management Inc. increased its stake in Nestlé by 3.2% in the first quarter. Violich Capital Management Inc. now owns 5,097 shares of the company’s stock valued at $541,000 after purchasing an additional 157 shares during the last quarter. Studio Investment Management LLC increased its stake in Nestlé by 5.1% in the second quarter. Studio Investment Management LLC now owns 3,678 shares of the company’s stock valued at $377,000 after purchasing an additional 180 shares during the last quarter. Kanawha Capital Management LLC increased its stake in Nestlé by 4.0% in the second quarter. Kanawha Capital Management LLC now owns 6,072 shares of the company’s stock valued at $622,000 after purchasing an additional 231 shares during the last quarter. Finally, Hendley & Co. Inc. increased its stake in Nestlé by 0.6% in the first quarter. Hendley & Co. Inc. now owns 44,612 shares of the company’s stock valued at $4,738,000 after purchasing an additional 250 shares during the last quarter. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

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.