Nestlé (OTCMKTS:NSRGY) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Nestlé (OTCMKTS:NSRGY - Free Report) from a sector perform rating to an outperform rating in a research note released on Friday morning, Marketbeat reports.

A number of other analysts have also issued reports on NSRGY. Morgan Stanley lowered shares of Nestlé from an "equal weight" rating to an "underweight" rating in a research note on Monday, September 16th. Barclays reiterated an "equal weight" rating on shares of Nestlé in a research note on Monday, September 9th. UBS Group lowered shares of Nestlé from a "buy" rating to a "neutral" rating in a research note on Friday, July 26th. Jefferies Financial Group upgraded shares of Nestlé from an "underperform" rating to a "hold" rating in a research note on Wednesday, July 31st. Finally, Berenberg Bank lowered shares of Nestlé from a "buy" rating to a "hold" rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Nestlé currently has an average rating of "Hold".

Nestlé Stock Up 0.4 %

NSRGY traded up $0.36 on Friday, hitting $99.18. The company had a trading volume of 523,645 shares, compared to its average volume of 754,721. Nestlé has a 1 year low of $96.36 and a 1 year high of $117.55. The company's fifty day moving average price is $101.75 and its 200 day moving average price is $103.02.

Hedge Funds Weigh In On Nestlé

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC boosted its holdings in shares of Nestlé by 3.7% in the first quarter. Douglas Lane & Associates LLC now owns 783,166 shares of the company's stock valued at $83,255,000 after acquiring an additional 27,888 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in shares of Nestlé by 4.8% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 23,983 shares of the company's stock valued at $2,550,000 after acquiring an additional 1,108 shares during the period. Violich Capital Management Inc. boosted its holdings in shares of Nestlé by 3.2% in the first quarter. Violich Capital Management Inc. now owns 5,097 shares of the company's stock valued at $541,000 after acquiring an additional 157 shares during the period. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its holdings in shares of Nestlé by 3.6% in the first quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 20,800 shares of the company's stock valued at $2,209,000 after acquiring an additional 725 shares during the period. Finally, Hendley & Co. Inc. boosted its holdings in shares of Nestlé by 0.6% in the first quarter. Hendley & Co. Inc. now owns 44,612 shares of the company's stock valued at $4,738,000 after acquiring an additional 250 shares during the period. 0.61% of the stock is owned by institutional investors and hedge funds.

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.