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

Shares of Nestlé S.A. (OTCMKTS:NSRGY) hit a new 52-week low during trading on Tuesday . The company traded as low as $93.39 and last traded at $93.39, with a volume of 2169925 shares changing hands. The stock had previously closed at $94.57.

Analyst Ratings Changes

A number of analysts have recently commented on NSRGY shares. Barclays restated an “equal weight” rating on shares of Nestlé in a report on Monday, September 9th. Berenberg Bank lowered Nestlé from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lowered Nestlé from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. UBS Group lowered Nestlé from a “buy” rating to a “neutral” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group raised Nestlé from an “underperform” rating to a “hold” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Nestlé Price Performance

The stock has a 50-day simple moving average of $99.71 and a two-hundred day simple moving average of $102.39.

Hedge Funds Weigh In On Nestlé

A number of hedge funds have recently bought and sold shares of the business. Altrius Capital Management Inc increased its position in shares of Nestlé by 2.4% during the 3rd quarter. Altrius Capital Management Inc now owns 69,306 shares of the company’s stock valued at $6,977,000 after purchasing an additional 1,603 shares during the last quarter. Mengis Capital Management Inc. increased its position in shares of Nestlé by 304.3% during the 3rd quarter. Mengis Capital Management Inc. now owns 22,150 shares of the company’s stock valued at $2,230,000 after purchasing an additional 16,671 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Nestlé by 7.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 49,222 shares of the company’s stock valued at $4,958,000 after purchasing an additional 3,271 shares during the last quarter. Saybrook Capital NC increased its position in shares of Nestlé by 11.9% during the 3rd quarter. Saybrook Capital NC now owns 63,401 shares of the company’s stock valued at $6,383,000 after purchasing an additional 6,742 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Nestlé during the 3rd quarter valued at about $365,000. Hedge funds and other institutional investors own 0.61% of the company’s stock.

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.