JPMorgan Chase & Co. Lowers Nestlé (OTCMKTS:NSRGY) to Neutral

JPMorgan Chase & Co. lowered shares of Nestlé (OTCMKTS:NSRGY) from an overweight rating to a neutral rating in a report issued on Thursday morning, Marketbeat reports.

Separately, Royal Bank of Canada raised shares of Nestlé from an underperform rating to a sector perform rating in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $153.00.

Nestlé Stock Performance

Shares of NSRGY opened at $101.15 on Thursday. Nestlé has a 1 year low of $99.04 and a 1 year high of $125.41. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.83 and a quick ratio of 0.51. The company’s 50 day simple moving average is $103.55 and its 200 day simple moving average is $108.88.

Hedge Funds Weigh In On Nestlé

Several large investors have recently bought and sold shares of the stock. Motco boosted its holdings in shares of Nestlé by 1.6% in the third quarter. Motco now owns 49,620 shares of the company’s stock worth $5,627,000 after buying an additional 793 shares during the period. Chartwell Investment Partners LLC raised its position in Nestlé by 9.2% during the third quarter. Chartwell Investment Partners LLC now owns 24,768 shares of the company’s stock valued at $2,809,000 after acquiring an additional 2,086 shares in the last quarter. Beddow Capital Management Inc. raised its position in Nestlé by 3.9% during the third quarter. Beddow Capital Management Inc. now owns 51,920 shares of the company’s stock valued at $5,876,000 after acquiring an additional 1,925 shares in the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. raised its position in Nestlé by 0.8% during the third quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 20,075 shares of the company’s stock valued at $2,272,000 after acquiring an additional 150 shares in the last quarter. Finally, Spinnaker Trust raised its position in Nestlé by 5.1% during the third quarter. Spinnaker Trust now owns 68,362 shares of the company’s stock valued at $7,752,000 after acquiring an additional 3,329 shares in the last quarter. Institutional investors and hedge funds own 0.61% of the company’s stock.

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.