Morgan Stanley cut shares of Nestlé (OTCMKTS:NSRGY – Free Report) from an equal weight rating to an underweight rating in a research note issued to investors on Monday, Marketbeat Ratings reports.
Several other research firms have also recently weighed in on NSRGY. Barclays reissued an equal weight rating on shares of Nestlé in a research note on Monday, September 9th. UBS Group downgraded shares of Nestlé from a buy rating to a neutral rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft cut shares of Nestlé from a buy rating to a hold rating in a report on Friday, July 26th. Jefferies Financial Group upgraded Nestlé from an underperform rating to a hold rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered Nestlé from an overweight rating to a neutral rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold.
Check Out Our Latest Report on NSRGY
Nestlé Stock Down 0.3 %
Institutional Trading of Nestlé
A number of hedge funds have recently modified their holdings of NSRGY. Douglas Lane & Associates LLC grew its stake in Nestlé by 3.7% in the 1st quarter. Douglas Lane & Associates LLC now owns 783,166 shares of the company’s stock valued at $83,255,000 after buying an additional 27,888 shares during the last quarter. Councilmark Asset Management LLC bought a new stake in shares of Nestlé during the first quarter worth approximately $640,000. Confluence Investment Management LLC acquired a new position in shares of Nestlé in the first quarter valued at approximately $111,100,000. Wedgewood Investors Inc. PA bought a new position in shares of Nestlé during the second quarter worth approximately $277,000. Finally, Cullen Investment Group LTD. lifted its holdings in Nestlé by 3.7% during the 1st quarter. Cullen Investment Group LTD. now owns 9,608 shares of the company’s stock worth $1,005,000 after purchasing an additional 342 shares during the last quarter. Institutional investors and hedge funds own 0.61% of the company’s stock.
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.
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