JPMorgan Chase & Co. Lowers Nestlé (OTCMKTS:NSRGY) to Neutral

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

Separately, Royal Bank of Canada upgraded Nestlé from an underperform rating to a sector perform rating in a report on Tuesday, February 27th. Two 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $153.00.

Nestlé Price Performance

NSRGY opened at $101.15 on Thursday. Nestlé has a 12 month low of $99.04 and a 12 month high of $125.41. The stock’s 50 day moving average price is $103.55 and its 200 day moving average price is $108.88. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.51 and a current ratio of 0.83.

Hedge Funds Weigh In On Nestlé

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Horrell Capital Management Inc. boosted its holdings in Nestlé by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 29,224 shares of the company’s stock valued at $3,386,000 after purchasing an additional 94 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Nestlé by 22.4% in the 4th quarter. First Horizon Advisors Inc. now owns 624 shares of the company’s stock worth $72,000 after acquiring an additional 114 shares in the last quarter. Partners Capital Investment Group LLP boosted its holdings in shares of Nestlé by 5.1% in the 4th quarter. Partners Capital Investment Group LLP now owns 2,366 shares of the company’s stock worth $274,000 after acquiring an additional 115 shares in the last quarter. Pinnacle West Asset Management Inc. boosted its holdings in shares of Nestlé by 4.8% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 2,855 shares of the company’s stock worth $330,000 after acquiring an additional 130 shares in the last quarter. Finally, Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its holdings in shares of Nestlé by 0.8% in the 3rd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 20,075 shares of the company’s stock worth $2,272,000 after acquiring an additional 150 shares in the last quarter. 0.61% of the stock is currently owned by institutional investors.

Nestlé Company Profile

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.