UBS Group lowered shares of Nestlé (OTCMKTS:NSRGY – Free Report) from a buy rating to a neutral rating in a report published on Friday morning, Marketbeat.com reports.
Separately, JPMorgan Chase & Co. cut Nestlé from an overweight rating to a neutral rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nestlé has an average rating of Hold.
Read Our Latest Research Report on Nestlé
Nestlé Stock Performance
Institutional Trading of Nestlé
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC acquired a new stake in Nestlé in the 1st quarter worth about $111,100,000. Douglas Lane & Associates LLC boosted its stake in Nestlé by 9.9% in the 2nd quarter. Douglas Lane & Associates LLC now owns 861,051 shares of the company’s stock worth $87,887,000 after buying an additional 77,885 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Nestlé by 198.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 83,173 shares of the company’s stock worth $9,636,000 after buying an additional 55,298 shares during the last quarter. Rodgers Brothers Inc. boosted its stake in Nestlé by 225.4% in the 1st quarter. Rodgers Brothers Inc. now owns 30,968 shares of the company’s stock worth $3,292,000 after buying an additional 21,450 shares during the last quarter. Finally, Henry James International Management Inc. boosted its stake in Nestlé by 89.6% in the 1st quarter. Henry James International Management Inc. now owns 23,471 shares of the company’s stock worth $2,493,000 after buying an additional 11,093 shares during the last quarter. Hedge funds and other institutional investors 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.
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