Nestlé (OTCMKTS:NSRGY) Upgraded at The Goldman Sachs Group

Nestlé (OTCMKTS:NSRGY) was upgraded by research analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently commented on NSRGY. Barclays reaffirmed an “equal weight” rating on shares of Nestlé in a research report on Monday, September 9th. Royal Bank of Canada upgraded shares of Nestlé from a “sector perform” rating to an “outperform” rating in a report on Friday, October 18th. Citigroup cut Nestlé from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley upgraded Nestlé from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Nestlé Stock Performance

NSRGY stock traded down $2.27 during midday trading on Tuesday, hitting $81.48. The company’s stock had a trading volume of 2,562,598 shares, compared to its average volume of 839,782. The firm’s 50-day moving average is $90.38 and its 200-day moving average is $98.90. Nestlé has a 12 month low of $81.33 and a 12 month high of $117.55.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NSRGY. Hantz Financial Services Inc. lifted its position in shares of Nestlé by 4.1% in the third quarter. Hantz Financial Services Inc. now owns 97,265 shares of the company’s stock worth $9,792,000 after buying an additional 3,787 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Nestlé during the 3rd quarter worth approximately $36,000. Douglass Winthrop Advisors LLC grew its holdings in shares of Nestlé by 2.5% in the third quarter. Douglass Winthrop Advisors LLC now owns 1,036,741 shares of the company’s stock valued at $104,417,000 after purchasing an additional 24,826 shares in the last quarter. Canopy Partners LLC increased its position in Nestlé by 3.0% in the third quarter. Canopy Partners LLC now owns 4,973 shares of the company’s stock worth $501,000 after purchasing an additional 147 shares during the last quarter. Finally, Studio Investment Management LLC lifted its position in Nestlé by 5.4% during the third quarter. Studio Investment Management LLC now owns 3,878 shares of the company’s stock valued at $390,000 after purchasing an additional 200 shares during the last quarter. 0.61% of the stock is owned by hedge funds and other institutional investors.

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.