Nestle (OTCMKTS:NSRGY) Reaches New 52-Week Low - Here's Why

Key Points

• Nestlé shares fell 1.6% to a new 52-week low of $90.88 during Tuesday trading, below the stock’s 50-day and 200-day moving averages.
• Analyst sentiment is mixed: Erste Group Bank and Jefferies upgraded the stock to “buy,” while Morgan Stanley maintained an “underweight” rating. MarketBeat’s overall consensus remains “Hold.”
• Several institutional investors increased their Nestlé positions, but institutional and hedge-fund ownership remains limited at approximately 0.61% of outstanding shares.

Nestle SA (OTCMKTS:NSRGY - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $90.88 and last traded at $91.2186, with a volume of 78526 shares changing hands. The stock had previously closed at $92.70.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Erste Group Bank upgraded shares of Nestle from a "hold" rating to a "buy" rating in a research report on Tuesday, July 7th. Morgan Stanley restated an "underweight" rating on shares of Nestle in a research report on Thursday, July 2nd. Finally, Jefferies Financial Group raised Nestle from a "hold" rating to a "buy" rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

Nestle Stock Down 1.6%

The firm's 50 day moving average price is $97.66 and its 200 day moving average price is $99.32. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.47 and a current ratio of 0.79.

Institutional Investors Weigh In On Nestle

Several institutional investors and hedge funds have recently bought and sold shares of NSRGY. Sterling Capital Management LLC lifted its position in Nestle by 73.6% in the first quarter. Sterling Capital Management LLC now owns 349 shares of the company's stock worth $34,000 after buying an additional 148 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Nestle by 6.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,491 shares of the company's stock worth $247,000 after buying an additional 156 shares during the period. Ramsay Stattman Vela & Price Inc. increased its position in Nestle by 0.5% during the second quarter. Ramsay Stattman Vela & Price Inc. now owns 60,336 shares of the company's stock valued at $6,196,000 after acquiring an additional 290 shares during the last quarter. Ramirez Asset Management Inc. raised its stake 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 valued at $5,766,000 after acquiring an additional 860 shares during the period. Finally, Broderick Brian C raised its stake in shares of Nestle by 8.0% in the first quarter. Broderick Brian C now owns 17,185 shares of the company's stock valued at $1,703,000 after acquiring an additional 1,280 shares during the period. Hedge funds and other institutional investors own 0.61% of the company's stock.

About Nestle

Nestlé SA is a Switzerland-based food and beverage company that develops, manufactures and markets products across categories including coffee, bottled water, dairy, confectionery, prepared foods, nutrition and pet care. Its portfolio includes internationally recognized brands such as Nescafé, Nespresso, KitKat, Purina, Nestlé Health Science and Maggi.

The company traces its origins to the 19th century, when Henri Nestlé developed an infant cereal, and to the Anglo-Swiss Condensed Milk Company.

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