Nestlé (OTCMKTS:NSRGY) Upgraded to Strong-Buy at BNP Paribas

BNP Paribas upgraded shares of Nestlé (OTCMKTS:NSRGY) from a strong sell rating to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Several other research analysts have also commented on NSRGY. Royal Bank of Canada upgraded shares of Nestlé from a “sector perform” rating to an “outperform” rating in a report on Friday, October 18th. Citigroup lowered shares of Nestlé from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Morgan Stanley raised shares of Nestlé from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. The Goldman Sachs Group raised shares of Nestlé to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group downgraded shares of Nestlé from a “hold” rating to an “underperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Nestlé Stock Performance

OTCMKTS NSRGY opened at $80.65 on Wednesday. Nestlé has a one year low of $80.53 and a one year high of $115.91. The company’s 50 day moving average price is $85.22 and its 200 day moving average price is $95.99.

Institutional Trading of Nestlé

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Nestlé by 6.5% in the second quarter. Rhumbline Advisers now owns 63,606 shares of the company’s stock worth $6,516,000 after purchasing an additional 3,909 shares during the period. Altrius Capital Management Inc boosted its holdings in Nestlé by 11.9% in the second quarter. Altrius Capital Management Inc now owns 67,703 shares of the company’s stock worth $6,936,000 after purchasing an additional 7,200 shares during the period. Beddow Capital Management Inc. boosted its holdings in Nestlé by 6.4% in the second quarter. Beddow Capital Management Inc. now owns 58,510 shares of the company’s stock worth $5,994,000 after purchasing an additional 3,495 shares during the period. Cheviot Value Management LLC boosted its holdings in Nestlé by 7.1% in the second quarter. Cheviot Value Management LLC now owns 4,765 shares of the company’s stock worth $488,000 after purchasing an additional 315 shares during the period. Finally, Front Row Advisors LLC boosted its holdings in Nestlé by 421.4% in the second quarter. Front Row Advisors LLC now owns 2,336 shares of the company’s stock worth $239,000 after purchasing an additional 1,888 shares during the period. Institutional investors and hedge funds own 0.61% of the company’s stock.

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.