Nestlé (OTCMKTS:NSRGY) Hits New 52-Week Low – Time to Sell?

Nestlé S.A. (OTCMKTS:NSRGY) hit a new 52-week low on Monday . The stock traded as low as $82.67 and last traded at $82.72, with a volume of 2569451 shares changing hands. The stock had previously closed at $83.81.

Analysts Set New Price Targets

A number of research firms have commented on NSRGY. Morgan Stanley raised shares of Nestlé from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 27th. Royal Bank of Canada raised Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Citigroup lowered Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Finally, Barclays restated an “equal weight” rating on shares of Nestlé in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Nestlé Price Performance

The stock’s 50-day moving average is $90.38 and its 200 day moving average is $98.90.

Institutional Investors Weigh In On Nestlé

Several large investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in Nestlé during the 3rd quarter worth approximately $36,000. First Horizon Advisors Inc. boosted its holdings in shares of Nestlé by 251.9% in the third quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock valued at $130,000 after buying an additional 922 shares during the period. 1620 Investment Advisors Inc. bought a new stake in shares of Nestlé during the second quarter worth $134,000. Front Row Advisors LLC raised its holdings in shares of Nestlé by 421.4% during the second quarter. Front Row Advisors LLC now owns 2,336 shares of the company’s stock worth $239,000 after acquiring an additional 1,888 shares during the period. Finally, Lee Danner & Bass Inc. bought a new stake in Nestlé in the 2nd quarter valued at $262,000. 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.