BNP Paribas Upgrades Nestlé (OTCMKTS:NSRGY) to “Strong-Buy”

Nestlé (OTCMKTS:NSRGY) was upgraded by research analysts at BNP Paribas from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also issued reports on the stock. Citigroup lowered shares of Nestlé from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group raised Nestlé to a “strong-buy” rating in a research note on Tuesday, December 17th. Morgan Stanley upgraded Nestlé from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. Royal Bank of Canada upgraded Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group downgraded Nestlé from a “hold” rating to an “underperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Nestlé Stock Down 2.4 %

Shares of NSRGY stock opened at $80.65 on Wednesday. The firm’s 50 day moving average price is $85.22 and its two-hundred day moving average price is $95.99. Nestlé has a 52-week low of $80.53 and a 52-week high of $115.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mengis Capital Management Inc. raised its position in shares of Nestlé by 304.3% in the third quarter. Mengis Capital Management Inc. now owns 22,150 shares of the company’s stock valued at $2,230,000 after buying an additional 16,671 shares during the last quarter. Douglass Winthrop Advisors LLC grew its stake in Nestlé by 2.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 1,036,741 shares of the company’s stock worth $104,417,000 after purchasing an additional 24,826 shares in the last quarter. ORG Partners LLC raised its holdings in Nestlé by 225.7% in the third quarter. ORG Partners LLC now owns 8,704 shares of the company’s stock valued at $876,000 after acquiring an additional 6,032 shares in the last quarter. Saybrook Capital NC raised its holdings in shares of Nestlé by 11.9% in the 3rd quarter. Saybrook Capital NC now owns 63,401 shares of the company’s stock valued at $6,383,000 after purchasing an additional 6,742 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in Nestlé by 6.4% during the 3rd quarter. Douglas Lane & Associates LLC now owns 916,418 shares of the company’s stock worth $92,299,000 after buying an additional 55,367 shares during the last quarter. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

About Nestlé

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.