Mon Dec 30 11:20:00 UTC 2024: **Nestlé Stock Hits 52-Week Low Amidst Mixed Analyst Ratings**
**Sioux Falls, SD – January 23, 2024** – Shares of Nestlé S.A. (OTCMKTS:NSRGY) plummeted to a new 52-week low of $81.18 on Tuesday, before closing slightly higher at $82.35. The decline comes amidst a mixed bag of analyst ratings, with recent opinions ranging from a strong buy to a sell.
Trading volume for the day reached 683,076 shares. While the stock closed at $82.30 the previous day, it continues to trade below its 50-day ($89.45) and 200-day ($98.25) moving averages, suggesting a downward trend.
Several financial institutions have recently adjusted their positions in Nestlé. Brooklyn Investment Group and Lee Danner & Bass Inc. both acquired new stakes in the company during the second and third quarters respectively. First Horizon Advisors Inc. and Front Row Advisors LLC significantly increased their holdings. However, institutional ownership remains relatively low at 0.61%.
Analyst opinions on Nestlé remain divided. While Goldman Sachs recently upgraded the stock to a strong buy, and Royal Bank of Canada raised its rating to outperform, other firms like Citigroup have downgraded their ratings. Currently, the consensus rating among analysts tracked by MarketBeat is a Hold, with one sell rating, eight hold ratings, one buy rating, and one strong buy rating.
Despite the recent downturn and mixed sentiment, Nestlé continues to operate as a major food and beverage company with diverse product lines, including baby food, bottled water, cereals, and chocolate and confectionery products. However, MarketBeat highlights that top-rated analysts are currently recommending other stocks over Nestlé.
First Piper 