Nestlé (OTCMKTS:NSRGY) Hits New 52-Week Low at $96.36

Nestlé S.A. (OTCMKTS:NSRGY)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $96.36 and last traded at $97.10, with a volume of 2097839 shares traded. The stock had previously closed at $100.79.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered Nestlé from an “overweight” rating to a “neutral” rating in a research note on Thursday, May 23rd. Berenberg Bank lowered Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. UBS Group lowered shares of Nestlé from a “buy” rating to a “neutral” rating in a report on Friday, July 26th. Morgan Stanley lowered shares of Nestlé from an “equal weight” rating to an “underweight” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Nestlé from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold”.

Nestlé Stock Performance

The business’s 50 day moving average price is $103.64 and its two-hundred day moving average price is $104.12. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.51 and a current ratio of 0.83.

Institutional Investors Weigh In On Nestlé

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NSRGY. 1620 Investment Advisors Inc. bought a new stake in shares of Nestlé during the 2nd quarter valued at $134,000. Front Row Advisors LLC boosted its stake in Nestlé by 421.4% during the second quarter. Front Row Advisors LLC now owns 2,336 shares of the company’s stock worth $239,000 after acquiring an additional 1,888 shares in the last quarter. Accent Capital Management LLC purchased a new stake in Nestlé in the fourth quarter worth about $241,000. GAMMA Investing LLC lifted its holdings in shares of Nestlé by 61.9% during the second quarter. GAMMA Investing LLC now owns 2,482 shares of the company’s stock valued at $254,000 after purchasing an additional 949 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Nestlé in the 2nd quarter worth approximately $262,000. 0.61% of the stock is owned by hedge funds and other institutional investors.

About Nestlé

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.