Nestle (OTCMKTS:NSRGY) Shares Gap Down – Here’s Why
by Sarita Garza · The Markets DailyNestle SA (OTCMKTS:NSRGY – Get Free Report)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $99.02, but opened at $96.00. Nestle shares last traded at $95.34, with a volume of 56,031 shares trading hands.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. Morgan Stanley restated an “underweight” rating on shares of Nestle in a research report on Monday, October 6th. Berenberg Bank raised shares of Nestle from a “hold” rating to a “buy” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nestle presently has a consensus rating of “Hold” and a consensus target price of $91.00.
Get Our Latest Analysis on Nestle
Nestle Stock Down 2.4%
The firm has a 50 day simple moving average of $98.67 and a 200 day simple moving average of $95.85. The company has a quick ratio of 0.41, a current ratio of 0.71 and a debt-to-equity ratio of 1.62.
Hedge Funds Weigh In On Nestle
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Nestle by 38.4% in the 4th quarter. GAMMA Investing LLC now owns 8,728 shares of the company’s stock valued at $862,000 after acquiring an additional 2,420 shares in the last quarter. Verity Asset Management Inc. raised its stake in Nestle by 41.7% in the third quarter. Verity Asset Management Inc. now owns 6,725 shares of the company’s stock valued at $617,000 after purchasing an additional 1,978 shares in the last quarter. Resources Management Corp CT ADV lifted its position in Nestle by 2,727.9% during the third quarter. Resources Management Corp CT ADV now owns 65,042 shares of the company’s stock valued at $5,969,000 after purchasing an additional 62,742 shares during the last quarter. Douglass Winthrop Advisors LLC grew its stake in Nestle by 0.3% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 978,777 shares of the company’s stock worth $89,822,000 after buying an additional 3,167 shares in the last quarter. Finally, Ramirez Asset Management Inc. increased its holdings in shares of Nestle by 88.8% in the 3rd quarter. Ramirez Asset Management Inc. now owns 57,151 shares of the company’s stock worth $5,249,000 after buying an additional 26,888 shares during the last quarter. 0.61% of the stock is currently owned by hedge funds and other institutional investors.
About Nestle
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.