Nestle (OTCMKTS:NSRGY) Shares Gap Down – Here’s What Happened

Nestle SA (OTCMKTS:NSRGY) shares gapped down prior to trading on Monday . The stock had previously closed at $99.02, but opened at $96.00. Nestle shares last traded at $95.34, with a volume of 56,031 shares trading hands.

Analysts Set New Price Targets

NSRGY has been the subject of a number of analyst reports. Berenberg Bank raised shares of Nestle from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Morgan Stanley reiterated an “underweight” rating on shares of Nestle in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nestle presently has an average rating of “Hold” and an average price target of $91.00.

Nestle Stock Down 2.4%

The company has a quick ratio of 0.41, a current ratio of 0.71 and a debt-to-equity ratio of 1.62. The stock’s 50 day moving average is $98.67 and its two-hundred day moving average is $95.85.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NSRGY. Strengthening Families & Communities LLC purchased a new position in shares of Nestle in the third quarter worth $31,000. Boyd Watterson Asset Management LLC OH raised its stake in Nestle by 175.1% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 641 shares of the company’s stock worth $59,000 after acquiring an additional 408 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Nestle by 37.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 613 shares of the company’s stock worth $61,000 after acquiring an additional 167 shares during the period. Salomon & Ludwin LLC grew its stake in Nestle by 412.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 933 shares of the company’s stock valued at $87,000 after purchasing an additional 751 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of Nestle in the third quarter valued at about $125,000. 0.61% of the stock is owned by institutional investors.

About Nestle

Nestlé SA is a Swiss multinational food and beverage company headquartered in Vevey, Switzerland. Founded in 1866 by Henri Nestlé, the company has grown into a global consumer goods firm and its American depositary receipts trade in the United States under the OTCMKTS ticker NSRGY. Nestlé operates across a broad range of food and beverage categories and is widely recognized for its portfolio of consumer-facing brands and products.

The company’s main business activities include the manufacture, marketing and distribution of products in categories such as coffee and other beverages, bottled water, dairy and infant nutrition, prepared meals and culinary products, confectionery, and pet care.