Nestlé (OTCMKTS:NSRGY) Raised to "Strong-Buy" at BNP Paribas

Nestlé (OTCMKTS:NSRGY - Get Free Report) was upgraded by analysts at BNP Paribas from a "strong sell" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

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

Nestlé Stock Down 2.4 %

NSRGY stock traded down $2.00 during trading hours on Wednesday, hitting $80.65. 1,133,733 shares of the stock were exchanged, compared to its average volume of 1,042,689. The company has a 50-day simple moving average of $85.22 and a two-hundred day simple moving average of $95.93. Nestlé has a 12 month low of $80.53 and a 12 month high of $115.91.

Institutional Trading of Nestlé

Institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in shares of Nestlé during the third quarter worth $36,000. First Horizon Advisors Inc. increased its holdings in Nestlé by 251.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company's stock worth $130,000 after purchasing an additional 922 shares in the last quarter. Front Row Advisors LLC increased its holdings in Nestlé by 421.4% in the 2nd quarter. Front Row Advisors LLC now owns 2,336 shares of the company's stock worth $239,000 after purchasing an additional 1,888 shares in the last quarter. GAMMA Investing LLC raised its position 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 purchasing an additional 698 shares during the last quarter. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Nestlé during the third quarter valued at about $365,000. 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.