Nestlé (OTCMKTS:NSRGY) Upgraded by The Goldman Sachs Group to “Strong-Buy” Rating

The Goldman Sachs Group upgraded shares of Nestlé (OTCMKTS:NSRGY) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts also recently commented on NSRGY. Royal Bank of Canada raised shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Morgan Stanley raised shares of Nestlé from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup cut shares of Nestlé from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Finally, Barclays reissued an “equal weight” rating on shares of Nestlé in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Nestlé Stock Down 2.7 %

Shares of OTCMKTS:NSRGY traded down $2.27 during trading on Tuesday, reaching $81.48. 2,562,598 shares of the stock were exchanged, compared to its average volume of 839,782. Nestlé has a 12-month low of $81.33 and a 12-month high of $117.55. The firm’s 50-day moving average price is $90.38 and its 200 day moving average price is $98.90.

Hedge Funds Weigh In On Nestlé

Hedge funds and other institutional investors have recently made changes to their positions in the business. Douglass Winthrop Advisors LLC increased its stake in shares of Nestlé by 2.5% during the third quarter. Douglass Winthrop Advisors LLC now owns 1,036,741 shares of the company’s stock valued at $104,417,000 after acquiring an additional 24,826 shares during the period. Douglas Lane & Associates LLC boosted its stake in Nestlé by 6.4% during the third quarter. Douglas Lane & Associates LLC now owns 916,418 shares of the company’s stock valued at $92,299,000 after buying an additional 55,367 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Nestlé by 4.1% during the third quarter. Hantz Financial Services Inc. now owns 97,265 shares of the company’s stock worth $9,792,000 after acquiring an additional 3,787 shares during the period. Ramsay Stattman Vela & Price Inc. raised its position in Nestlé by 2.0% in the second quarter. Ramsay Stattman Vela & Price Inc. now owns 92,542 shares of the company’s stock worth $9,481,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Spinnaker Trust lifted its holdings in Nestlé by 1.3% in the 2nd quarter. Spinnaker Trust now owns 73,786 shares of the company’s stock valued at $7,531,000 after acquiring an additional 960 shares during the last quarter. 0.61% of the stock is currently owned by institutional investors and hedge funds.

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.