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

Key Points

• Nestle SA shares saw a significant price increase, jumping from a previous close of $95.35 to an opening of $103.37, with current trading at $102.93 and a volume of 157,807 shares.
• Research analysts provided mixed ratings on Nestle, with Jefferies upgrading the stock to a "hold" while Morgan Stanley maintains an "underweight" rating, leading to an average rating of "Hold" and a price target of $91.00.
• Several institutional investors increased their stakes in Nestle, with notable growth by Azimuth Capital Investment Management LLC, which lifted its stake by 79.7% during the first quarter.

Nestle SA (OTCMKTS:NSRGY - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $95.35, but opened at $103.37. Nestle shares last traded at $102.93, with a volume of 157,807 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NSRGY shares. Jefferies Financial Group raised Nestle from an "underperform" rating to a "hold" rating in a research report on Friday, August 1st. Morgan Stanley reiterated an "underweight" rating on shares of Nestle in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $91.00.

Nestle Stock Up 8.7%

The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.41 and a current ratio of 0.71. The business's 50 day simple moving average is $91.93 and its 200-day simple moving average is $98.07.

Hedge Funds Weigh In On Nestle

A number of institutional investors have recently bought and sold shares of NSRGY. Douglas Lane & Associates LLC increased its stake in Nestle by 5.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 924,344 shares of the company's stock worth $84,889,000 after purchasing an additional 44,185 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its stake in Nestle by 2.4% in the 1st quarter. Douglass Winthrop Advisors LLC now owns 1,011,125 shares of the company's stock worth $102,296,000 after acquiring an additional 23,692 shares in the last quarter. Azimuth Capital Investment Management LLC lifted its stake in Nestle by 79.7% in the 1st quarter. Azimuth Capital Investment Management LLC now owns 47,430 shares of the company's stock worth $4,789,000 after acquiring an additional 21,036 shares in the last quarter. Mengis Capital Management Inc. lifted its stake in Nestle by 25.5% in the 1st quarter. Mengis Capital Management Inc. now owns 41,965 shares of the company's stock worth $4,246,000 after acquiring an additional 8,520 shares in the last quarter. Finally, Ramirez Asset Management Inc. grew its stake in Nestle by 24.7% in the second quarter. Ramirez Asset Management Inc. now owns 30,263 shares of the company's stock valued at $2,997,000 after purchasing an additional 5,985 shares in the last quarter. Hedge funds and other 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.

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