Nestlé (OTCMKTS:NSRGY) Upgraded to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Nestlé (OTCMKTS:NSRGY) from a sector perform rating to an outperform rating in a research note issued to investors on Friday morning, MarketBeat reports.

NSRGY has been the topic of a number of other research reports. Berenberg Bank cut Nestlé from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Morgan Stanley downgraded shares of Nestlé from an “equal weight” rating to an “underweight” rating in a report on Monday, September 16th. Citigroup downgraded shares of Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. UBS Group lowered shares of Nestlé from a “buy” rating to a “neutral” rating in a research report on Friday, July 26th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Nestlé in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Nestlé Trading Up 0.5 %

Nestlé stock opened at $99.65 on Friday. The business’s 50 day simple moving average is $101.70 and its 200 day simple moving average is $102.97. Nestlé has a 12 month low of $96.36 and a 12 month high of $117.55.

Hedge Funds Weigh In On Nestlé

A number of large investors have recently modified their holdings of the company. 1620 Investment Advisors Inc. bought a new position in Nestlé in the 2nd quarter valued at $134,000. Front Row Advisors LLC boosted its stake in Nestlé by 421.4% during the second quarter. Front Row Advisors LLC now owns 2,336 shares of the company’s stock valued at $239,000 after buying an additional 1,888 shares during the period. GAMMA Investing LLC grew its position in Nestlé by 61.9% during the second quarter. GAMMA Investing LLC now owns 2,482 shares of the company’s stock worth $254,000 after buying an additional 949 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Nestlé in the 2nd quarter worth about $262,000. Finally, Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Nestlé in the 2nd quarter valued at about $265,000. 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.