Nestle SA (NSRGY) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Nestle SA (NASDAQ:NSRGY) from a buy rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “Nestle is the world’s #1 food company and the world leader in coffee (Nescafe), mineral water (Perrier), and ophthalmology products. Among its more than 8,500 products are Alpo dog food, Baby Ruth and Butterfinger candy bars, Carnation evaporated and condensed milk, Coffee-Mate coffee creamer, Kix breakfast cereals, Nestle Quik chocolate drink mix, Stouffer’s frozen dinners, and Toll House morsels. “
Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein reissued a hold rating on shares of Nestle SA in a research report on Saturday, June 17th. Berenberg Bank downgraded Nestle SA from a buy rating to a hold rating in a research report on Wednesday, June 7th.
Nestle SA (NSRGY) traded up 0.19% during mid-day trading on Friday, hitting $85.52. The stock had a trading volume of 207,047 shares. The stock has a market cap of $264.94 billion and a price-to-earnings ratio of 27.21. Nestle SA has a 12 month low of $66.08 and a 12 month high of $89.40. The stock’s 50-day moving average price is $86.06 and its 200-day moving average price is $79.57.
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Institutional investors have recently added to or reduced their stakes in the stock. Patten Group Inc. boosted its position in Nestle SA by 0.7% in the first quarter. Patten Group Inc. now owns 1,470 shares of the company’s stock worth $110,000 after buying an additional 10 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in Nestle SA during the second quarter worth about $200,000. Advisor Partners LLC acquired a new position in Nestle SA during the first quarter worth about $204,000. North Star Asset Management Inc. acquired a new position in Nestle SA during the first quarter worth about $212,000. Finally, Vaughan David Investments Inc. IL acquired a new position in Nestle SA during the first quarter worth about $213,000.
About Nestle SA
Nestle SA is a nutrition, health and wellness company. The Company’s segments are Zone Europe, Middle East and North Africa (EMENA); Zone Americas (AMS); Zone Asia, Oceania and sub-Saharan Africa (AOA); Nestle Waters; Nestle Nutrition, and Other Businesses. The Company operates in the United States, Greater China Region, Switzerland and Rest of the World.
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