Nestlé (OTCMKTS:NSRGY) Upgraded to “Strong-Buy” at The Goldman Sachs Group

Nestlé (OTCMKTS:NSRGY) was upgraded by research analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on NSRGY. Citigroup lowered Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 18th. Morgan Stanley upgraded shares of Nestlé from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Barclays reiterated an “equal weight” rating on shares of Nestlé in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Nestlé has a consensus rating of “Hold”.

Nestlé Price Performance

Shares of NSRGY stock traded down $2.27 on Tuesday, hitting $81.48. 2,562,598 shares of the company’s stock traded hands, compared to its average volume of 839,782. The company’s fifty day simple moving average is $90.38 and its 200 day simple moving average is $98.90. Nestlé has a one year low of $81.33 and a one year high of $117.55.

Hedge Funds Weigh In On Nestlé

A number of large investors have recently made changes to their positions in the stock. Douglass Winthrop Advisors LLC raised its stake in shares of Nestlé by 2.5% in the third quarter. Douglass Winthrop Advisors LLC now owns 1,036,741 shares of the company’s stock worth $104,417,000 after purchasing an additional 24,826 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of Nestlé by 6.4% in the 3rd quarter. Douglas Lane & Associates LLC now owns 916,418 shares of the company’s stock valued at $92,299,000 after acquiring an additional 55,367 shares during the period. Hantz Financial Services Inc. boosted its position in Nestlé by 4.1% during the third quarter. Hantz Financial Services Inc. now owns 97,265 shares of the company’s stock worth $9,792,000 after purchasing an additional 3,787 shares in the last quarter. Ramsay Stattman Vela & Price Inc. raised its holdings in Nestlé by 2.0% in the 2nd quarter. Ramsay Stattman Vela & Price Inc. now owns 92,542 shares of the company’s stock valued at $9,481,000 after acquiring an additional 1,855 shares during the last quarter. Finally, Spinnaker Trust boosted its position in shares of Nestlé by 1.3% during the 2nd quarter. Spinnaker Trust now owns 73,786 shares of the company’s stock worth $7,531,000 after purchasing an additional 960 shares during the period. 0.61% of the stock is owned by institutional investors.

Nestlé Company Profile

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.