Nestlé (OTCMKTS:NSRGY) Sets New 52-Week Low – Here’s What Happened

Nestlé S.A. (OTCMKTS:NSRGY)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $89.54 and last traded at $89.54, with a volume of 968072 shares changing hands. The stock had previously closed at $90.46.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NSRGY shares. Morgan Stanley downgraded shares of Nestlé from an “equal weight” rating to an “underweight” rating in a report on Monday, September 16th. Royal Bank of Canada raised Nestlé from a “sector perform” rating to an “outperform” rating in a report on Friday, October 18th. Citigroup downgraded Nestlé from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Berenberg Bank cut Nestlé from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Barclays reiterated an “equal weight” rating on shares of Nestlé in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Nestlé Stock Down 1.0 %

The firm has a fifty day moving average price of $98.33 and a 200 day moving average price of $102.04.

Institutional Trading of Nestlé

Several large investors have recently made changes to their positions in NSRGY. Mengis Capital Management Inc. grew its holdings in Nestlé by 304.3% during the 3rd quarter. Mengis Capital Management Inc. now owns 22,150 shares of the company’s stock worth $2,230,000 after acquiring an additional 16,671 shares during the last quarter. Councilmark Asset Management LLC acquired a new position in shares of Nestlé during the first quarter worth approximately $640,000. ORG Partners LLC grew its stake in shares of Nestlé by 225.7% during the third quarter. ORG Partners LLC now owns 8,704 shares of the company’s stock valued at $876,000 after purchasing an additional 6,032 shares during the last quarter. Saybrook Capital NC increased its holdings in shares of Nestlé by 11.9% in the third 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 in the last quarter. Finally, Wedgewood Investors Inc. PA bought a new position in Nestlé in the 2nd quarter worth approximately $277,000. 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.