Nestlé S.A. (OTCMKTS:NSRGY – Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $99.04 and last traded at $101.43, with a volume of 2669276 shares. The stock had previously closed at $103.03.
Analyst Upgrades and Downgrades
NSRGY has been the subject of a number of research analyst reports. BNP Paribas downgraded Nestlé from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 9th. Royal Bank of Canada raised Nestlé from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Nestlé currently has a consensus rating of “Hold” and a consensus price target of $153.00.
View Our Latest Stock Analysis on NSRGY
Nestlé Trading Down 0.1 %
Hedge Funds Weigh In On Nestlé
Several institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Investment Group LTD. bought a new stake in Nestlé during the 4th quarter valued at about $1,074,000. Spinnaker Trust raised its holdings in Nestlé by 5.1% in the 3rd quarter. Spinnaker Trust now owns 68,362 shares of the company’s stock worth $7,752,000 after acquiring an additional 3,329 shares during the last quarter. Pacer Advisors Inc. lifted its position in Nestlé by 0.8% in the 4th quarter. Pacer Advisors Inc. now owns 24,744 shares of the company’s stock valued at $2,861,000 after acquiring an additional 190 shares in the last quarter. Navellier & Associates Inc. purchased a new stake in Nestlé during the 3rd quarter valued at $656,000. Finally, Beach Investment Counsel Inc. PA increased its holdings in shares of Nestlé by 15.2% in the 4th quarter. Beach Investment Counsel Inc. PA now owns 191,115 shares of the company’s stock worth $22,099,000 after purchasing an additional 25,203 shares in the last quarter. 0.61% of the stock is currently owned by institutional investors.
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.
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