Morgan Stanley Upgrades Nestlé (OTCMKTS:NSRGY) to Equal Weight

Morgan Stanley upgraded shares of Nestlé (OTCMKTS:NSRGY) from an underweight rating to an equal weight rating in a research note published on Wednesday morning, MarketBeat.com reports.

NSRGY has been the topic of several other reports. Royal Bank of Canada raised shares of Nestlé from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 18th. Citigroup cut Nestlé from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Jefferies Financial Group raised Nestlé from an “underperform” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Barclays reiterated an “equal weight” rating on shares of Nestlé in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Nestlé Stock Up 1.2 %

Nestlé stock opened at $86.36 on Wednesday. Nestlé has a 12-month low of $85.01 and a 12-month high of $117.55. The stock has a 50-day simple moving average of $94.63 and a 200 day simple moving average of $100.86.

Hedge Funds Weigh In On Nestlé

Several hedge funds have recently added to or reduced their stakes in NSRGY. Mengis Capital Management Inc. raised its position in shares of Nestlé by 304.3% in the 3rd quarter. Mengis Capital Management Inc. now owns 22,150 shares of the company’s stock valued at $2,230,000 after acquiring an additional 16,671 shares during the period. Douglass Winthrop Advisors LLC increased its stake in Nestlé by 2.5% in the third quarter. Douglass Winthrop Advisors LLC now owns 1,036,741 shares of the company’s stock valued at $104,417,000 after purchasing an additional 24,826 shares in the last quarter. ORG Partners LLC boosted its position in shares of Nestlé by 225.7% during the third quarter. ORG Partners LLC now owns 8,704 shares of the company’s stock worth $876,000 after purchasing an additional 6,032 shares in the last quarter. Saybrook Capital NC grew its holdings in shares of Nestlé by 11.9% in the 3rd quarter. Saybrook Capital NC now owns 63,401 shares of the company’s stock valued at $6,383,000 after buying an additional 6,742 shares during the period. Finally, Wedgewood Investors Inc. PA bought a new stake in shares of Nestlé in the 2nd quarter valued at $277,000. Institutional investors and hedge funds own 0.61% of the company’s stock.

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.