Berenberg Bank Downgrades Nestlé (OTCMKTS:NSRGY) to Hold

Berenberg Bank downgraded shares of Nestlé (OTCMKTS:NSRGY) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports.

Several other analysts also recently commented on the stock. UBS Group downgraded shares of Nestlé from a buy rating to a neutral rating in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of Nestlé from a buy rating to a hold rating in a research report on Friday. Finally, JPMorgan Chase & Co. downgraded shares of 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. Based on data from MarketBeat, the stock presently has an average rating of Hold.

Nestlé Price Performance

OTCMKTS:NSRGY opened at $99.21 on Friday. Nestlé has a 1-year low of $99.02 and a 1-year high of $123.68. The firm’s 50-day moving average price is $104.48 and its 200-day moving average price is $106.05. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.26.

Hedge Funds Weigh In On Nestlé

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedgewood Investors Inc. PA bought a new position in Nestlé during the 2nd quarter valued at about $277,000. Kanawha Capital Management LLC lifted its stake in Nestlé by 4.0% during the 2nd quarter. Kanawha Capital Management LLC now owns 6,072 shares of the company’s stock valued at $622,000 after acquiring an additional 231 shares during the period. 1620 Investment Advisors Inc. bought a new position in Nestlé during the 2nd quarter valued at about $134,000. Raelipskie Partnership lifted its stake in shares of Nestlé by 4.0% in the 2nd quarter. Raelipskie Partnership now owns 17,347 shares of the company’s stock worth $1,777,000 after purchasing an additional 670 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of Nestlé by 5.3% in the 2nd quarter. Diversified Trust Co now owns 6,630 shares of the company’s stock worth $677,000 after purchasing an additional 336 shares during the period. Institutional investors own 0.61% of the company’s stock.

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.