Nestlé (OTCMKTS:NSRGY) Hits New 1-Year Low – Here’s What Happened

Nestlé S.A. (OTCMKTS:NSRGY)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $80.30 and last traded at $81.22, with a volume of 1344648 shares changing hands. The stock had previously closed at $80.65.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NSRGY shares. Morgan Stanley upgraded Nestlé from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup cut Nestlé from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. 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. Jefferies Financial Group downgraded Nestlé from a “hold” rating to an “underperform” rating in a report on Wednesday, January 8th. Finally, BNP Paribas upgraded Nestlé from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Nestlé Stock Performance

The business’s 50 day simple moving average is $84.71 and its 200-day simple moving average is $95.58.

Hedge Funds Weigh In On Nestlé

Several hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. grew its stake in Nestlé by 4.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 97,265 shares of the company’s stock valued at $9,792,000 after acquiring an additional 3,787 shares in the last quarter. Brooklyn Investment Group bought a new stake in Nestlé during the third quarter valued at about $36,000. Douglass Winthrop Advisors LLC increased its position in Nestlé by 2.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 1,036,741 shares of the company’s stock worth $104,417,000 after acquiring an additional 24,826 shares during the period. Canopy Partners LLC raised its holdings in Nestlé by 3.0% in the 3rd quarter. Canopy Partners LLC now owns 4,973 shares of the company’s stock valued at $501,000 after acquiring an additional 147 shares in the last quarter. Finally, Studio Investment Management LLC raised its stake in shares of Nestlé by 5.4% in the third quarter. Studio Investment Management LLC now owns 3,878 shares of the company’s stock valued at $390,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 0.61% of the company’s stock.

Nestlé Company Profile

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.