Nestle (OTCMKTS:NSRGY) Sets New 1-Year Low – Here’s What Happened

Nestle SA (OTCMKTS:NSRGY)’s share price reached a new 52-week low on Tuesday. The company traded as low as $90.88 and last traded at $91.2186, with a volume of 78526 shares traded. The stock had previously closed at $92.70.

Wall Street Analysts Forecast Growth

NSRGY has been the subject of several recent analyst reports. Morgan Stanley restated an “underweight” rating on shares of Nestle in a research report on Thursday, July 2nd. Erste Group Bank raised Nestle from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group upgraded 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Nestle Stock Performance

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

Hedge Funds Weigh In On Nestle

Several institutional investors have recently made changes to their positions in NSRGY. Ramsay Stattman Vela & Price Inc. increased its position in Nestle by 0.5% during the 2nd quarter. Ramsay Stattman Vela & Price Inc. now owns 60,336 shares of the company’s stock valued at $6,196,000 after purchasing an additional 290 shares during the period. Ramirez Asset Management Inc. lifted its position in shares of Nestle by 1.5% in the 4th quarter. Ramirez Asset Management Inc. now owns 58,011 shares of the company’s stock worth $5,766,000 after purchasing an additional 860 shares during the period. Mengis Capital Management Inc. boosted its stake in shares of Nestle by 11.4% during the fourth quarter. Mengis Capital Management Inc. now owns 46,175 shares of the company’s stock valued at $4,561,000 after purchasing an additional 4,740 shares in the last quarter. Opal Capital LLC purchased a new position in Nestle during the first quarter valued at approximately $3,398,000. Finally, Diversified Trust Co increased its holdings in Nestle by 32.4% during the first quarter. Diversified Trust Co now owns 20,221 shares of the company’s stock valued at $1,973,000 after buying an additional 4,951 shares during the period. Hedge funds and other institutional investors own 0.61% of the company’s stock.

Nestle Company Profile

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.