Nestlé (OTCMKTS:NSRGF) Shares Up 0.4% – Here’s Why
by Danessa Lincoln · The Markets DailyNestlé S.A. (OTCMKTS:NSRGF – Get Free Report) shares traded up 0.4% on Thursday . The company traded as high as $93.5040 and last traded at $92.94. 6,972 shares were traded during mid-day trading, a decline of 45% from the average session volume of 12,714 shares. The stock had previously closed at $92.55.
Nestlé Stock Performance
The firm has a 50-day moving average price of $98.22 and a 200-day moving average price of $95.51.
Institutional Investors Weigh In On Nestlé
An institutional investor recently bought a new position in Nestlé stock. Saranac Partners Ltd bought a new position in Nestlé S.A. (OTCMKTS:NSRGF – Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,486 shares of the company’s stock, valued at approximately $136,000. 27.22% of the stock is owned by institutional investors and hedge funds.
About Nestlé
Nestlé SA is a Swiss multinational food and beverage company known for a diverse portfolio of products spanning powdered and liquid beverages, dairy products, infant nutrition, pet care, confectionery, bottled water and prepared foods. The company’s well-recognized brands include Nescafé, Nespresso, KitKat, Purina, Gerber, Maggi and Perrier. Nestlé also operates in specialized nutrition and health science, offering medical-nutrition products and weight-management solutions through its Nutrition division.
Founded in 1866 by pharmacist Henri Nestlé, the company’s origins trace back to the invention of “Farine Lactée,” an early infant cereal.