Nestlé (OTCMKTS:NSRGY) Upgraded to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Nestlé (OTCMKTS:NSRGY) from a sector perform rating to an outperform rating in a report released on Friday morning, Marketbeat.com reports.

Other equities research analysts have also recently issued research reports about the company. Barclays reiterated an “equal weight” rating on shares of Nestlé in a research note on Monday, September 9th. Jefferies Financial Group raised Nestlé from an “underperform” rating to a “hold” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft downgraded Nestlé from a “buy” rating to a “hold” rating in a report on Friday, July 26th. UBS Group downgraded shares of Nestlé from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. Finally, Morgan Stanley cut shares of Nestlé from an “equal weight” rating to an “underweight” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Nestlé Trading Up 0.4 %

NSRGY opened at $99.18 on Friday. The business’s 50-day simple moving average is $101.75 and its 200 day simple moving average is $103.02. Nestlé has a 52-week low of $96.36 and a 52-week high of $117.55.

Hedge Funds Weigh In On Nestlé

A number of hedge funds have recently bought and sold shares of NSRGY. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Nestlé by 0.5% during the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 24,096 shares of the company’s stock worth $2,459,000 after purchasing an additional 113 shares in the last quarter. Violich Capital Management Inc. grew its position in Nestlé by 3.2% during the first quarter. Violich Capital Management Inc. now owns 5,097 shares of the company’s stock worth $541,000 after buying an additional 157 shares in the last quarter. Studio Investment Management LLC increased its stake in Nestlé by 5.1% during the 2nd quarter. Studio Investment Management LLC now owns 3,678 shares of the company’s stock worth $377,000 after acquiring an additional 180 shares during the period. Kanawha Capital Management LLC raised its holdings in Nestlé by 4.0% in the 2nd quarter. Kanawha Capital Management LLC now owns 6,072 shares of the company’s stock valued at $622,000 after acquiring an additional 231 shares in the last quarter. Finally, Hendley & Co. Inc. lifted its position in shares of Nestlé by 0.6% during the 1st quarter. Hendley & Co. Inc. now owns 44,612 shares of the company’s stock valued at $4,738,000 after acquiring an additional 250 shares during the period. 0.61% of the stock is owned by 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.