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

Shares of Nestle SA (OTCMKTS:NSRGY) gapped down before the market opened on Thursday . The stock had previously closed at $104.10, but opened at $97.65. Nestle shares last traded at $98.11, with a volume of 26,421 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NSRGY. Erste Group Bank raised shares of Nestle from a “hold” rating to a “buy” rating in a research note on Tuesday, July 7th. Morgan Stanley reiterated an “underweight” rating on shares of Nestle in a research note on Thursday, July 2nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of Nestle in a report on Friday, April 24th. Finally, Jefferies Financial Group raised Nestle from a “hold” rating to a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Nestle Trading Up 2.0%

The company has a fifty day simple moving average of $101.15 and a 200-day simple moving average of $99.98. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.79 and a quick ratio of 0.47.

Institutional Investors Weigh In On Nestle

Hedge funds have recently modified their holdings of the stock. Douglas Lane & Associates LLC boosted its position in shares of Nestle by 3.6% in the 4th quarter. Douglas Lane & Associates LLC now owns 957,576 shares of the company’s stock valued at $95,171,000 after purchasing an additional 33,232 shares during the period. Generali Investments CEE investicni spolecnost a.s. raised its holdings in Nestle by 57.1% during the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 37,160 shares of the company’s stock worth $3,671,000 after buying an additional 13,510 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new stake in Nestle during the 1st quarter worth about $662,000. Mengis Capital Management Inc. lifted its stake in Nestle by 11.4% during the fourth quarter. Mengis Capital Management Inc. now owns 46,175 shares of the company’s stock valued at $4,561,000 after buying an additional 4,740 shares in the last quarter. Finally, Ramirez Asset Management Inc. boosted its holdings in shares of Nestle by 1.5% in the fourth quarter. Ramirez Asset Management Inc. now owns 58,011 shares of the company’s stock worth $5,766,000 after buying an additional 860 shares during the period. 0.61% of the stock is owned by hedge funds and other 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.