Nestlé (OTCMKTS:NSRGY) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Nestlé (OTCMKTS:NSRGY) from an overweight rating to a neutral rating in a report released on Thursday morning, Marketbeat Ratings reports.

Separately, Royal Bank of Canada upgraded Nestlé from an underperform rating to a sector perform rating in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $153.00.

Nestlé Trading Down 0.3 %

NSRGY opened at $101.15 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.26. Nestlé has a 52 week low of $99.04 and a 52 week high of $125.41. The business’s fifty day simple moving average is $103.55 and its 200 day simple moving average is $108.89.

Hedge Funds Weigh In On Nestlé

Large investors have recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in shares of Nestlé during the 4th quarter valued at about $69,000. First Horizon Advisors Inc. raised its holdings in shares of Nestlé by 22.4% during the 4th quarter. First Horizon Advisors Inc. now owns 624 shares of the company’s stock valued at $72,000 after buying an additional 114 shares during the period. Operose Advisors LLC purchased a new stake in shares of Nestlé during the 3rd quarter valued at about $82,000. Vestor Capital LLC grew its stake in Nestlé by 242.9% during the 4th quarter. Vestor Capital LLC now owns 1,334 shares of the company’s stock valued at $154,000 after purchasing an additional 945 shares in the last quarter. Finally, Wesbanco Bank Inc. purchased a new stake in Nestlé during the 1st quarter worth approximately $220,000. 0.61% of the stock is currently 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.