Nestlé (OTCMKTS:NSRGY) Sets New 12-Month Low – Here’s Why

Shares of Nestlé S.A. (OTCMKTS:NSRGY) hit a new 52-week low on Tuesday . The stock traded as low as $84.00 and last traded at $84.04, with a volume of 969190 shares traded. The stock had previously closed at $85.65.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank of Canada upgraded Nestlé from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 18th. Citigroup lowered Nestlé from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Morgan Stanley upgraded Nestlé from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. Finally, Barclays restated an “equal weight” rating on shares of Nestlé in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Nestlé Price Performance

The stock has a 50-day moving average price of $92.49 and a 200 day moving average price of $99.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NSRGY. Burke & Herbert Bank & Trust Co. acquired a new stake in Nestlé during the second quarter valued at approximately $265,000. Diversified Trust Co lifted its holdings in shares of Nestlé by 5.3% in the second quarter. Diversified Trust Co now owns 6,630 shares of the company’s stock valued at $677,000 after purchasing an additional 336 shares in the last quarter. Raelipskie Partnership lifted its holdings in shares of Nestlé by 4.0% in the second quarter. Raelipskie Partnership now owns 17,347 shares of the company’s stock valued at $1,777,000 after purchasing an additional 670 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Nestlé in the second quarter valued at about $134,000. Finally, Kanawha Capital Management LLC grew its stake in Nestlé by 4.0% in the second quarter. Kanawha Capital Management LLC now owns 6,072 shares of the company’s stock valued at $622,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds 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.