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

Nestlé S.A. (OTCMKTS:NSRGY)’s stock price hit a new 52-week low during trading on Tuesday . The stock 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Berenberg Bank cut shares of Nestlé from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Citigroup cut Nestlé from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Barclays reiterated an “equal weight” rating on shares of Nestlé in a research report on Monday, September 9th. Jefferies Financial Group raised shares of Nestlé from an “underperform” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada raised shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nestlé has a consensus rating of “Hold”.

Nestlé Stock Performance

The business’s 50-day simple moving average is $100.29 and its 200 day simple moving average is $102.54.

Hedge Funds Weigh In On Nestlé

A number of large investors have recently added to or reduced their stakes in NSRGY. Chartwell Investment Partners LLC increased its holdings in shares of Nestlé by 7.1% in the third quarter. Chartwell Investment Partners LLC now owns 49,222 shares of the company’s stock worth $4,958,000 after buying an additional 3,271 shares during the period. Saybrook Capital NC grew its position in Nestlé by 11.9% during the 3rd quarter. Saybrook Capital NC now owns 63,401 shares of the company’s stock worth $6,383,000 after acquiring an additional 6,742 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Nestlé in the 3rd quarter worth approximately $365,000. ORG Partners LLC lifted its position in Nestlé by 225.7% in 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. Finally, Douglas Lane & Associates LLC boosted its stake in shares of Nestlé by 6.4% during 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. 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.