Nestlé (OTCMKTS:NSRGY) Sets New 12-Month Low – Here’s Why

Shares of Nestlé S.A. (OTCMKTS:NSRGY) reached a new 52-week low during trading on Tuesday . The company traded as low as $84.00 and last traded at $84.04, with a volume of 969190 shares trading hands. The stock had previously closed at $85.65.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NSRGY. Morgan Stanley raised shares of Nestlé from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 27th. Royal Bank of Canada raised shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Citigroup downgraded shares of Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Finally, Barclays reaffirmed an “equal weight” rating on shares of Nestlé in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Nestlé Price Performance

The stock has a 50-day simple moving average of $92.49 and a two-hundred day simple moving average of $99.80.

Hedge Funds Weigh In On Nestlé

A number of hedge funds have recently bought and sold shares of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in Nestlé by 0.5% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 24,096 shares of the company’s stock valued at $2,459,000 after buying an additional 113 shares in the last quarter. Canopy Partners LLC raised its holdings in shares of Nestlé by 3.0% in the third 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. Studio Investment Management LLC grew 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 grew its stake in shares of Nestlé by 4.0% during the second quarter. Kanawha Capital Management LLC now owns 6,072 shares of the company’s stock worth $622,000 after acquiring an additional 231 shares during the last quarter. Finally, Vaughan David Investments LLC IL grew its stake in shares of Nestlé by 12.4% during the second quarter. Vaughan David Investments LLC IL now owns 2,727 shares of the company’s stock worth $279,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors 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.