Nestlé S.A. (OTCMKTS:NSRGY) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Nestlé S.A. (OTCMKTS:NSRGY) have been assigned a consensus recommendation of “Reduce” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company.

NSRGY has been the topic of several research reports. Citigroup lowered Nestlé from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Jefferies Financial Group upgraded Nestlé from an “underperform” rating to a “hold” rating in a research note on Wednesday, July 31st. Berenberg Bank cut Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada upgraded shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley downgraded shares of Nestlé from an “equal weight” rating to an “underweight” rating in a research report on Monday, September 16th.

Nestlé Stock Down 1.2 %

OTCMKTS NSRGY opened at $98.47 on Friday. The firm’s fifty day moving average price is $101.62 and its 200 day moving average price is $102.93. Nestlé has a 12 month low of $96.36 and a 12 month high of $117.55.

Institutional Investors Weigh In On Nestlé

Several hedge funds have recently modified their holdings of NSRGY. Douglas Lane & Associates LLC lifted its position in Nestlé by 6.4% in the third quarter. Douglas Lane & Associates LLC now owns 916,418 shares of the company’s stock valued at $92,299,000 after purchasing an additional 55,367 shares during the period. Hemenway Trust Co LLC boosted its stake in shares of Nestlé by 2.7% in the first quarter. Hemenway Trust Co LLC now owns 257,164 shares of the company’s stock valued at $27,311,000 after buying an additional 6,670 shares in the last quarter. Broderick Brian C grew its holdings in Nestlé by 4.6% during the first quarter. Broderick Brian C now owns 102,949 shares of the company’s stock worth $10,933,000 after acquiring an additional 4,520 shares during the period. Hantz Financial Services Inc. purchased a new position in Nestlé in the second quarter worth $9,577,000. Finally, Ramsay Stattman Vela & Price Inc. lifted its holdings in Nestlé by 2.0% in the second quarter. Ramsay Stattman Vela & Price Inc. now owns 92,542 shares of the company’s stock valued at $9,481,000 after acquiring an additional 1,855 shares during the period. 0.61% of the stock is owned by institutional investors and hedge funds.

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.