Nestlé (OTCMKTS:NSRGY) Rating Increased to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of Nestlé (OTCMKTS:NSRGY) from a strong sell rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

NSRGY has been the topic of several other research reports. Morgan Stanley upgraded Nestlé from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. The Goldman Sachs Group upgraded shares of Nestlé to a “strong-buy” rating in a report on Tuesday, December 17th. Citigroup lowered shares of Nestlé from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Jefferies Financial Group cut shares of Nestlé from a “hold” rating to an “underperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada upgraded shares of Nestlé from a “sector perform” rating to an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Nestlé currently has a consensus rating of “Hold”.

Nestlé Trading Down 2.4 %

Shares of Nestlé stock opened at $80.65 on Wednesday. The business’s 50-day moving average price is $85.22 and its 200-day moving average price is $95.99. Nestlé has a 12 month low of $80.53 and a 12 month high of $115.91.

Institutional Investors Weigh In On Nestlé

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Douglass Winthrop Advisors LLC boosted its stake in Nestlé by 2.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 1,036,741 shares of the company’s stock worth $104,417,000 after acquiring an additional 24,826 shares in the last quarter. Douglas Lane & Associates LLC increased its position in Nestlé by 6.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 916,418 shares of the company’s stock valued at $92,299,000 after buying an additional 55,367 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Nestlé by 4.1% during the third quarter. Hantz Financial Services Inc. now owns 97,265 shares of the company’s stock valued at $9,792,000 after buying an additional 3,787 shares during the last quarter. Altrius Capital Management Inc grew its stake in shares of Nestlé by 2.4% in the third quarter. Altrius Capital Management Inc now owns 69,306 shares of the company’s stock worth $6,977,000 after acquiring an additional 1,603 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Nestlé by 6.5% during the second quarter. Rhumbline Advisers now owns 63,606 shares of the company’s stock valued at $6,516,000 after acquiring an additional 3,909 shares in the last quarter. 0.61% of the stock is owned by hedge funds and other institutional investors.

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.