Nestlé (OTCMKTS:NSRGY) Downgraded by Citigroup to Neutral

Citigroup cut shares of Nestlé (OTCMKTS:NSRGY) from a buy rating to a neutral rating in a report issued on Thursday morning, Marketbeat reports.

Several other analysts have also recently commented on NSRGY. Morgan Stanley cut Nestlé from an equal weight rating to an underweight rating in a research report on Monday, September 16th. UBS Group lowered Nestlé from a buy rating to a neutral rating in a research note on Friday, July 26th. Jefferies Financial Group raised Nestlé from an underperform rating to a hold rating in a research note on Wednesday, July 31st. Berenberg Bank lowered Nestlé from a buy rating to a hold rating in a research note on Friday, July 26th. Finally, Deutsche Bank Aktiengesellschaft lowered Nestlé from a buy rating to a hold rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold.

Nestlé Stock Down 1.3 %

Shares of Nestlé stock opened at $98.75 on Thursday. Nestlé has a twelve month low of $96.36 and a twelve month high of $117.55. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 1.26. The business’s 50 day simple moving average is $102.61 and its 200-day simple moving average is $103.63.

Institutional Investors Weigh In On Nestlé

A number of institutional investors have recently added to or reduced their stakes in NSRGY. 1620 Investment Advisors Inc. acquired a new stake in shares of Nestlé in the second quarter valued at $134,000. Accent Capital Management LLC acquired a new stake in shares of Nestlé in the fourth quarter valued at $241,000. Front Row Advisors LLC increased its stake in shares of Nestlé by 421.4% in 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Nestlé by 61.9% in the second quarter. GAMMA Investing LLC now owns 2,482 shares of the company’s stock valued at $254,000 after buying an additional 949 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Nestlé in the second quarter valued at $262,000. 0.61% of the stock is owned by institutional investors and hedge funds.

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.