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

Nestlé S.A. (OTCMKTS:NSRGY - Get Free Report) hit a new 52-week low during trading 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada upgraded Nestlé from a "sector perform" rating to an "outperform" rating in a report on Friday, October 18th. Citigroup cut shares of Nestlé from a "buy" rating to a "neutral" rating in a research note on Thursday, October 3rd. Jefferies Financial Group lowered shares of Nestlé from a "hold" rating to an "underperform" rating in a research note on Wednesday, January 8th. The Goldman Sachs Group upgraded shares of Nestlé to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, Morgan Stanley upgraded shares of Nestlé from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold".

Nestlé Stock Up 0.7 %

The business's fifty day simple moving average is $85.22 and its two-hundred day simple moving average is $95.87.

Hedge Funds Weigh In On Nestlé

Several institutional investors and hedge funds have recently added to or reduced their stakes in NSRGY. Canopy Partners LLC grew its holdings in shares of Nestlé by 3.0% during the 3rd quarter. Canopy Partners LLC now owns 4,973 shares of the company's stock worth $501,000 after purchasing an additional 147 shares in the last quarter. Studio Investment Management LLC increased its holdings in Nestlé by 5.4% in the 3rd quarter. Studio Investment Management LLC now owns 3,878 shares of the company's stock valued at $390,000 after buying an additional 200 shares during the period. Cheviot Value Management LLC raised its stake in shares of Nestlé by 7.1% in the 2nd quarter. Cheviot Value Management LLC now owns 4,765 shares of the company's stock valued at $488,000 after buying an additional 315 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Nestlé during the 3rd quarter worth about $36,000. Finally, GAMMA Investing LLC increased its stake in Nestlé by 28.1% in the third quarter. GAMMA Investing LLC now owns 3,180 shares of the company's stock valued at $320,000 after acquiring an additional 698 shares during the period. 0.61% of the stock is currently owned by institutional investors.

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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