Nestlé (OTCMKTS:NSRGY) Hits New 52-Week Low – Should You Sell?

Nestlé S.A. (OTCMKTS:NSRGY) shares reached a new 52-week low on Monday . The company traded as low as $80.84 and last traded at $81.86, with a volume of 1570981 shares changing hands. The stock had previously closed at $82.02.

Wall Street Analysts Forecast Growth

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

Nestlé Stock Up 0.2 %

The company has a 50 day moving average of $85.74 and a 200 day moving average of $96.26.

Institutional Investors Weigh In On Nestlé

A number of hedge funds have recently modified their holdings of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in Nestlé by 0.5% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 24,096 shares of the company’s stock valued at $2,459,000 after acquiring an additional 113 shares during the last quarter. Canopy Partners LLC lifted its position in Nestlé by 3.0% during the third quarter. Canopy Partners LLC now owns 4,973 shares of the company’s stock worth $501,000 after buying an additional 147 shares in the last quarter. Studio Investment Management LLC boosted its stake in Nestlé by 5.1% during the second quarter. Studio Investment Management LLC now owns 3,678 shares of the company’s stock worth $377,000 after buying an additional 180 shares during the last quarter. Vaughan David Investments LLC IL grew its holdings in Nestlé by 12.4% in the 2nd quarter. Vaughan David Investments LLC IL now owns 2,727 shares of the company’s stock valued at $279,000 after buying an additional 300 shares in the last quarter. Finally, Cheviot Value Management LLC increased its stake in shares of Nestlé by 7.1% in the 2nd quarter. Cheviot Value Management LLC now owns 4,765 shares of the company’s stock worth $488,000 after acquiring an additional 315 shares during the last quarter. 0.61% of the stock is currently owned by institutional investors and hedge funds.

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.