Nestlé (OTCMKTS:NSRGY) Cut to Underperform at Jefferies Financial Group

Jefferies Financial Group cut shares of Nestlé (OTCMKTS:NSRGY) from a hold rating to an underperform rating in a research note published on Wednesday, Marketbeat.com reports.

A number of other equities research analysts have also recently issued reports on the company. Citigroup cut Nestlé from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Royal Bank of Canada raised shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised Nestlé to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, Morgan Stanley upgraded Nestlé from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Nestlé Trading Down 2.4 %

Shares of Nestlé stock opened at $80.65 on Wednesday. The stock has a 50-day simple moving average of $85.22 and a 200-day simple moving average of $95.99. Nestlé has a 52-week low of $80.53 and a 52-week high of $115.91.

Institutional Trading of Nestlé

Several hedge funds and other institutional investors have recently modified their holdings of NSRGY. Canopy Partners LLC increased its holdings in Nestlé by 3.0% in the 3rd quarter. Canopy Partners LLC now owns 4,973 shares of the company’s stock valued at $501,000 after buying an additional 147 shares during the period. Studio Investment Management LLC grew its position in Nestlé by 5.1% in the second quarter. Studio Investment Management LLC now owns 3,678 shares of the company’s stock valued at $377,000 after acquiring an additional 180 shares during the last quarter. Vaughan David Investments LLC IL lifted its holdings in shares of Nestlé by 12.4% in the second quarter. Vaughan David Investments LLC IL now owns 2,727 shares of the company’s stock worth $279,000 after acquiring an additional 300 shares during the last quarter. Cheviot Value Management LLC grew its holdings in shares of Nestlé by 7.1% during the 2nd quarter. Cheviot Value Management LLC now owns 4,765 shares of the company’s stock valued at $488,000 after purchasing an additional 315 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Nestlé during the 3rd quarter worth approximately $36,000. Institutional investors own 0.61% of the company’s stock.

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.