Nestlé (OTCMKTS:NSRGY) Upgraded by Royal Bank of Canada to Outperform

Royal Bank of Canada upgraded shares of Nestlé (OTCMKTS:NSRGY) from a sector perform rating to an outperform rating in a research note released on Friday, MarketBeat Ratings reports.

Other analysts also recently issued reports about the company. Citigroup downgraded Nestlé from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Barclays restated an “equal weight” rating on shares of Nestlé in a research note on Monday, September 9th. Berenberg Bank downgraded shares of Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Jefferies Financial Group raised shares of Nestlé from an “underperform” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, UBS Group cut Nestlé from a “buy” rating to a “neutral” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold”.

Nestlé Stock Performance

Shares of NSRGY opened at $99.18 on Friday. The firm has a 50 day simple moving average of $101.75 and a two-hundred day simple moving average of $103.02. Nestlé has a one year low of $96.36 and a one year high of $117.55.

Institutional Investors Weigh In On Nestlé

A number of institutional investors have recently added to or reduced their stakes in the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Nestlé by 0.5% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 24,096 shares of the company’s stock valued at $2,459,000 after acquiring an additional 113 shares during the last quarter. Violich Capital Management Inc. raised its position in Nestlé by 3.2% during the 1st quarter. Violich Capital Management Inc. now owns 5,097 shares of the company’s stock worth $541,000 after purchasing an additional 157 shares during the last quarter. Studio Investment Management LLC lifted its holdings in Nestlé by 5.1% during the 2nd quarter. Studio Investment Management LLC now owns 3,678 shares of the company’s stock worth $377,000 after buying an additional 180 shares during the period. Kanawha Capital Management LLC grew its position in shares of Nestlé by 4.0% in the 2nd quarter. Kanawha Capital Management LLC now owns 6,072 shares of the company’s stock valued at $622,000 after buying an additional 231 shares during the last quarter. Finally, Hendley & Co. Inc. increased its stake in shares of Nestlé by 0.6% in the first quarter. Hendley & Co. Inc. now owns 44,612 shares of the company’s stock valued at $4,738,000 after buying an additional 250 shares during the period. 0.61% of the stock is owned by 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.