Nestlé (OTCMKTS:NSRGY) Stock Rating Upgraded by BNP Paribas

Nestlé (OTCMKTS:NSRGY) was upgraded by equities research analysts at BNP Paribas from a “strong sell” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on NSRGY. Morgan Stanley upgraded shares of Nestlé from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. The Goldman Sachs Group raised shares of Nestlé to a “strong-buy” rating in a research note on Tuesday, December 17th. Citigroup downgraded Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised Nestlé from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group lowered Nestlé from a “hold” rating to an “underperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Nestlé Trading Down 2.4 %

OTCMKTS:NSRGY opened at $80.65 on Wednesday. The business’s 50-day simple moving average is $85.22 and its 200-day simple moving average is $95.99. Nestlé has a fifty-two week low of $80.53 and a fifty-two week high of $115.91.

Hedge Funds Weigh In On Nestlé

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group acquired a new position in Nestlé during the third quarter valued at approximately $36,000. First Horizon Advisors Inc. raised its stake in shares of Nestlé by 251.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock worth $130,000 after purchasing an additional 922 shares in the last quarter. Front Row Advisors LLC boosted its holdings in shares of Nestlé by 421.4% in the 2nd 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 during the last quarter. GAMMA Investing LLC grew its stake in shares of Nestlé by 28.1% in the third quarter. GAMMA Investing LLC now owns 3,180 shares of the company’s stock valued at $320,000 after buying an additional 698 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Nestlé during the third quarter worth $365,000. 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.