Zacks Investment Research Lowers NESTLE S A/S (NSRGY) to Sell
NESTLE S A/S (OTCMKTS:NSRGY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
According to Zacks, “Nestle is the world’s #1 food company and the world leader in coffee (Nescafe), mineral water (Perrier), and ophthalmology products. Among its more than 8,500 products are Alpo dog food, Baby Ruth and Butterfinger candy bars, Carnation evaporated and condensed milk, Coffee-Mate coffee creamer, Kix breakfast cereals, Nestle Quik chocolate drink mix, Stouffer’s frozen dinners, and Toll House morsels. “
Other equities research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of NESTLE S A/S from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Berenberg Bank upgraded shares of NESTLE S A/S from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Societe Generale started coverage on shares of NESTLE S A/S in a research report on Tuesday, January 29th. They set a “buy” rating for the company. Morgan Stanley reiterated a “buy” rating on shares of NESTLE S A/S in a research report on Tuesday, October 16th. Finally, JPMorgan Chase & Co. set a $100.00 price target on shares of NESTLE S A/S and gave the stock a “buy” rating in a research report on Monday, December 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $96.50.
Several large investors have recently modified their holdings of NSRGY. Concentric Wealth Management LLC acquired a new stake in shares of NESTLE S A/S during the 3rd quarter worth approximately $208,000. South State Corp acquired a new stake in shares of NESTLE S A/S during the 3rd quarter worth approximately $209,000. Moloney Securities Asset Management LLC acquired a new stake in shares of NESTLE S A/S during the 4th quarter worth approximately $216,000. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new stake in shares of NESTLE S A/S during the 4th quarter worth approximately $243,000. Finally, Virginia National Bank acquired a new stake in shares of NESTLE S A/S during the 3rd quarter worth approximately $253,000. Institutional investors own 1.37% of the company’s stock.
About NESTLE S A/S
Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone Europe, Middle East and North Africa; Zone Americas; Zone Asia, Oceania and sub-Saharan Africa; Nestlé Waters; and Nestlé Nutrition segments. It offers baby foods under the Cerelac, Gerber, Gerber Graduates, NaturNes, and Nestum brands; bottled water under the Nestlé Pure Life, Perrier, Poland Spring, and S.Pellegrino brands; cereals under the Chocapic, Cini Minis, Cookie Crisp, Estrelitas, Fitness, and Nesquik Cereal brands; and chocolate and confectionery products under the Smarties, Cailler, Butterfinger, Crunch, Aero, KitKat, Nestle Toll House, Wonka, and Orion brands.
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