Nestlé (OTCMKTS:NSRGY) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued on Saturday, Zacks.com reports.
According to Zacks, "Nestle is the world's #1 food company and the world leader in coffee (Nescafe), mineral water (Perrier), and ophthalmology products. Among its more than 8,500 products are Alpo dog food, Baby Ruth and Butterfinger candy bars, Carnation evaporated and condensed milk, Coffee-Mate coffee creamer, Kix breakfast cereals, Nestle Quik chocolate drink mix, Stouffer's frozen dinners, and Toll House morsels. "
A number of other equities analysts have also recently commented on the company. Credit Suisse Group reaffirmed a "neutral" rating on shares of Nestlé in a research note on Wednesday, December 9th. Sanford C. Bernstein began coverage on Nestlé in a research note on Monday, October 12th. They issued an "outperform" rating on the stock. DZ Bank reaffirmed a "buy" rating on shares of Nestlé in a research note on Thursday, October 22nd. Exane BNP Paribas downgraded Nestlé from a "neutral" rating to an "underperform" rating in a report on Wednesday. Finally, Royal Bank of Canada raised Nestlé from an "underperform" rating to a "sector perform" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. The company currently has an average rating of "Buy" and an average target price of $127.00.
Shares of NSRGY opened at $113.22 on Friday. The stock has a 50-day moving average price of $114.14 and a 200-day moving average price of $116.64. The company has a market cap of $326.08 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 5.24 and a beta of 0.36. Nestlé has a 12-month low of $88.00 and a 12-month high of $122.63. The company has a current ratio of 0.75, a quick ratio of 0.47 and a debt-to-equity ratio of 0.58.
A number of institutional investors have recently made changes to their positions in the stock. Private Trust Co. NA lifted its stake in shares of Nestlé by 1.5% in the 3rd quarter. Private Trust Co. NA now owns 8,990 shares of the company's stock valued at $1,069,000 after purchasing an additional 131 shares during the last quarter. Sky Investment Group LLC lifted its stake in shares of Nestlé by 29.7% in the 3rd quarter. Sky Investment Group LLC now owns 78,283 shares of the company's stock valued at $9,336,000 after purchasing an additional 17,903 shares during the last quarter. Windward Capital Management Co. CA lifted its stake in shares of Nestlé by 0.7% in the 3rd quarter. Windward Capital Management Co. CA now owns 31,647 shares of the company's stock valued at $3,766,000 after purchasing an additional 215 shares during the last quarter. Vigilant Capital Management LLC lifted its stake in shares of Nestlé by 194.1% in the 3rd quarter. Vigilant Capital Management LLC now owns 850 shares of the company's stock valued at $101,000 after purchasing an additional 561 shares during the last quarter. Finally, Atlantic Union Bankshares Corp lifted its stake in shares of Nestlé by 10.7% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 2,070 shares of the company's stock valued at $246,000 after purchasing an additional 200 shares during the last quarter. 1.47% of the stock is owned by institutional investors.
NestlÃ© SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone Europe, Middle East and North Africa; Zone Americas; Zone Asia, Oceania and sub-Saharan Africa; and NestlÃ© Waters segments. It offers baby foods under the Cerelac, Gerber, and NaturNes brands; bottled water under the NestlÃ© Pure Life, Perrier, Poland Spring, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Nestle L'atelier, Nestle Toll House, Milkybar, Smarties, Quality Street, Aero, Garoto, Orion, and Cailler brands.
Further Reading: How To Calculate Debt-to-Equity Ratio
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