Nestle (OTCMKTS:NSRGY) Sets New 52-Week High – Here’s Why

Nestle SA (OTCMKTS:NSRGY) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $109.59 and last traded at $109.26, with a volume of 228835 shares traded. The stock had previously closed at $107.18.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Berenberg Bank upgraded Nestle from a “hold” rating to a “buy” rating in a research note on Monday, November 3rd. Jefferies Financial Group restated a “hold” rating on shares of Nestle in a research note on Monday. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Nestle in a research note on Thursday, February 12th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.00.

Nestle Trading Up 2.0%

The firm has a fifty day moving average price of $98.47 and a 200 day moving average price of $96.62. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.41 and a current ratio of 0.71.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NSRGY. Douglass Winthrop Advisors LLC raised its position in shares of Nestle by 0.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 978,777 shares of the company’s stock worth $89,822,000 after acquiring an additional 3,167 shares during the last quarter. Douglas Lane & Associates LLC increased its position in Nestle by 3.6% in the fourth quarter. Douglas Lane & Associates LLC now owns 957,576 shares of the company’s stock worth $95,171,000 after purchasing an additional 33,232 shares during the period. Altrius Capital Management Inc raised its holdings in Nestle by 10.5% during the 3rd quarter. Altrius Capital Management Inc now owns 89,028 shares of the company’s stock worth $8,170,000 after purchasing an additional 8,433 shares during the last quarter. Saybrook Capital NC lifted its position in Nestle by 1.1% during the 4th quarter. Saybrook Capital NC now owns 76,997 shares of the company’s stock valued at $7,606,000 after purchasing an additional 850 shares during the period. Finally, Beddow Capital Management Inc. boosted its stake in shares of Nestle by 6.6% in the 3rd quarter. Beddow Capital Management Inc. now owns 73,734 shares of the company’s stock valued at $6,767,000 after purchasing an additional 4,544 shares during the last quarter. 0.61% of the stock is currently owned by institutional investors.

Nestle Company Profile

Nestlé SA is a Swiss multinational food and beverage company headquartered in Vevey, Switzerland. Founded in 1866 by Henri Nestlé, the company has grown into a global consumer goods firm and its American depositary receipts trade in the United States under the OTCMKTS ticker NSRGY. Nestlé operates across a broad range of food and beverage categories and is widely recognized for its portfolio of consumer-facing brands and products.

The company’s main business activities include the manufacture, marketing and distribution of products in categories such as coffee and other beverages, bottled water, dairy and infant nutrition, prepared meals and culinary products, confectionery, and pet care.