Nestle (OTCMKTS:NSRGY) Shares Gap Down – Here’s Why

Nestle SA (OTCMKTS:NSRGYGet Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $104.10, but opened at $97.65. Nestle shares last traded at $98.11, with a volume of 26,421 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NSRGY shares. Royal Bank Of Canada reissued a “sector perform” rating on shares of Nestle in a report on Friday, April 24th. Erste Group Bank upgraded shares of Nestle from a “hold” rating to a “buy” rating in a research report on Tuesday, July 7th. Morgan Stanley reaffirmed an “underweight” rating on shares of Nestle in a report on Thursday, July 2nd. Finally, Jefferies Financial Group raised Nestle from a “hold” rating to a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nestle has a consensus rating of “Hold”.

Read Our Latest Analysis on Nestle

Nestle Trading Down 7.0%

The company has a debt-to-equity ratio of 1.40, a current ratio of 0.79 and a quick ratio of 0.47. The firm has a 50 day moving average of $101.18 and a two-hundred day moving average of $100.00.

Institutional Investors Weigh In On Nestle

Hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC raised its position in shares of Nestle by 3.6% during the fourth quarter. Douglas Lane & Associates LLC now owns 957,576 shares of the company’s stock worth $95,171,000 after acquiring an additional 33,232 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. grew its position in Nestle by 57.1% in the 4th quarter. Generali Investments CEE investicni spolecnost a.s. now owns 37,160 shares of the company’s stock valued at $3,671,000 after purchasing an additional 13,510 shares during the period. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Nestle during the first quarter worth about $662,000. Diversified Trust Co. boosted its holdings in Nestle by 15.4% during the 4th quarter. Diversified Trust Co. now owns 15,270 shares of the company’s stock worth $1,518,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Ramirez Asset Management Inc. grew its position in Nestle by 1.5% in the 4th quarter. Ramirez Asset Management Inc. now owns 58,011 shares of the company’s stock worth $5,766,000 after purchasing an additional 860 shares in the last quarter. 0.61% of the stock is currently owned by institutional investors and hedge funds.

About Nestle

(Get Free Report)

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.

Further Reading

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