Nestlé (OTCMKTS:NSRGY) Hits New 1-Year Low - What's Next?

Nestlé S.A. (OTCMKTS:NSRGY - Get Free Report)'s stock price hit a new 52-week low 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.

Analysts Set New Price Targets

NSRGY has been the subject of several research analyst reports. Royal Bank of Canada upgraded shares of Nestlé from a "sector perform" rating to an "outperform" rating in a research report 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. Jefferies Financial Group lowered Nestlé from a "hold" rating to an "underperform" rating in a research report on Wednesday, January 8th. Morgan Stanley raised shares of Nestlé from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 27th. Finally, BNP Paribas raised shares of Nestlé from a "strong sell" rating to a "strong-buy" rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Nestlé currently has a consensus rating of "Hold".

Nestlé Stock Performance

The firm has a 50 day simple moving average of $84.71 and a two-hundred day simple moving average of $95.58.

Hedge Funds Weigh In On Nestlé

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC lifted its holdings in Nestlé by 6.4% in the third quarter. Douglas Lane & Associates LLC now owns 916,418 shares of the company's stock valued at $92,299,000 after buying an additional 55,367 shares during the period. Douglass Winthrop Advisors LLC grew its holdings 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 buying an additional 24,826 shares in the last quarter. Mengis Capital Management Inc. boosted its holdings in Nestlé by 304.3% during the 3rd quarter. Mengis Capital Management Inc. now owns 22,150 shares of the company's stock worth $2,230,000 after acquiring an additional 16,671 shares during the last quarter. Altrius Capital Management Inc increased its stake in Nestlé by 11.9% in the 2nd quarter. Altrius Capital Management Inc now owns 67,703 shares of the company's stock valued at $6,936,000 after buying an additional 7,200 shares during the last quarter. Finally, Saybrook Capital NC lifted its holdings in Nestlé by 11.9% during the third quarter. Saybrook Capital NC now owns 63,401 shares of the company's stock worth $6,383,000 after acquiring an additional 6,742 shares during the period. 0.61% of the stock is currently owned by institutional investors and hedge funds.

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.

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