Nestle (OTCMKTS:NSRGY) Shares Gap Down - Here's What Happened

Nestle SA (OTCMKTS:NSRGY - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $101.83, but opened at $99.05. Nestle shares last traded at $99.66, with a volume of 19,352 shares.

Analyst Ratings Changes

NSRGY has been the subject of several research analyst reports. Royal Bank Of Canada lowered Nestle from an "outperform" rating to a "sector perform" rating in a research note on Friday, March 21st. BNP Paribas lowered Nestle from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Morgan Stanley lowered Nestle from an "equal weight" rating to an "underweight" rating and set a $91.00 price target for the company. in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $91.00.

Nestle Price Performance

The company has a quick ratio of 0.51, a current ratio of 0.82 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average price of $104.50 and a two-hundred day moving average price of $96.25.

Institutional Investors Weigh In On Nestle

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its stake in shares of Nestle by 6.7% in the 1st quarter. Rhumbline Advisers now owns 63,064 shares of the company's stock valued at $6,380,000 after acquiring an additional 3,964 shares during the last quarter. Ancora Advisors LLC raised its position in Nestle by 0.9% during the 1st quarter. Ancora Advisors LLC now owns 75,388 shares of the company's stock valued at $7,627,000 after purchasing an additional 703 shares during the last quarter. Douglass Winthrop Advisors LLC raised its position in Nestle by 2.4% during the 1st quarter. Douglass Winthrop Advisors LLC now owns 1,011,125 shares of the company's stock valued at $102,296,000 after purchasing an additional 23,692 shares during the last quarter. Corient IA LLC bought a new position in Nestle during the 1st quarter valued at approximately $505,000. Finally, Azimuth Capital Investment Management LLC raised its position in Nestle by 79.7% during the 1st quarter. Azimuth Capital Investment Management LLC now owns 47,430 shares of the company's stock valued at $4,789,000 after purchasing an additional 21,036 shares during the last quarter. Institutional investors own 0.61% of the company's stock.

About Nestle

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.