Nestlé (OTCMKTS:NSRGY) Downgraded to Underperform Rating by Jefferies Financial Group

Jefferies Financial Group cut shares of Nestlé (OTCMKTS:NSRGY) from a hold rating to an underperform rating in a report published on Wednesday morning, MarketBeat reports.

Several other equities analysts have also issued reports on the stock. The Goldman Sachs Group upgraded shares of Nestlé to a “strong-buy” rating in a report on Tuesday, December 17th. Citigroup cut Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Morgan Stanley raised shares of Nestlé from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada raised shares of Nestlé from a “sector perform” rating to an “outperform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Nestlé Price Performance

NSRGY opened at $82.65 on Wednesday. Nestlé has a 52 week low of $80.84 and a 52 week high of $116.03. The business’s fifty day simple moving average is $85.74 and its 200 day simple moving average is $96.26.

Institutional Investors Weigh In On Nestlé

A number of institutional investors have recently added to or reduced their stakes in NSRGY. Brooklyn Investment Group purchased a new stake in shares of Nestlé during the 3rd quarter valued at about $36,000. First Horizon Advisors Inc. raised its stake in shares of Nestlé by 251.9% in the third quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock valued at $130,000 after acquiring an additional 922 shares during the period. Front Row Advisors LLC grew its holdings in Nestlé by 421.4% during the 2nd quarter. Front Row Advisors LLC now owns 2,336 shares of the company’s stock valued at $239,000 after purchasing an additional 1,888 shares during the last quarter. Vaughan David Investments LLC IL raised its position in Nestlé by 12.4% in the 2nd quarter. Vaughan David Investments LLC IL now owns 2,727 shares of the company’s stock worth $279,000 after purchasing an additional 300 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Nestlé by 28.1% during the third quarter. GAMMA Investing LLC now owns 3,180 shares of the company’s stock valued at $320,000 after buying an additional 698 shares during the period. 0.61% of the stock is owned by hedge funds and other 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.