Berenberg Bank Upgrades Nestle (OTCMKTS:NSRGY) to “Buy”

Nestle (OTCMKTS:NSRGY) was upgraded by research analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Monday.

NSRGY has been the topic of a number of other research reports. Morgan Stanley reaffirmed an “underweight” rating on shares of Nestle in a research note on Monday, October 6th. Jefferies Financial Group raised Nestle from an “underperform” rating to a “hold” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $91.00.

Nestle Trading Down 0.8%

Shares of OTCMKTS:NSRGY opened at $95.52 on Monday. The business’s 50 day simple moving average is $94.46 and its 200-day simple moving average is $97.94. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.71 and a quick ratio of 0.41. Nestle has a 12 month low of $80.11 and a 12 month high of $109.31.

Institutional Trading of Nestle

Institutional investors and hedge funds have recently made changes to their positions in the company. Boston Common Asset Management LLC acquired a new stake in Nestle in the 3rd quarter valued at $4,259,000. Associated Banc Corp boosted its position in Nestle by 60.5% in the 3rd quarter. Associated Banc Corp now owns 7,225 shares of the company’s stock valued at $664,000 after buying an additional 2,723 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Nestle in the 3rd quarter valued at about $125,000. Kingswood Wealth Advisors LLC purchased a new position in Nestle in the 3rd quarter valued at about $252,000. Finally, Salomon & Ludwin LLC boosted its position in Nestle by 412.6% in the 3rd quarter. Salomon & Ludwin LLC now owns 933 shares of the company’s stock valued at $87,000 after buying an additional 751 shares during the last quarter. 0.61% of the stock is currently owned by institutional investors and hedge funds.

Nestle 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.