Nestlé (OTCMKTS:NSRGF) Stock Price Up 2.6% – Here’s What Happened

Nestlé S.A. (OTCMKTS:NSRGF)’s stock price shot up 2.6% on Thursday . The stock traded as high as $104.57 and last traded at $103.6280. 3,054 shares traded hands during trading, a decline of 71% from the average session volume of 10,617 shares. The stock had previously closed at $100.9820.

Nestlé Trading Down 1.0%

The firm’s fifty day moving average is $97.11 and its 200 day moving average is $95.45.

Institutional Investors Weigh In On Nestlé

Several large investors have recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC bought a new position in Nestlé in the third quarter worth approximately $20,895,000. Generali Investments CEE investicni spolecnost a.s. raised its holdings in Nestlé by 2.8% in the fourth quarter. Generali Investments CEE investicni spolecnost a.s. now owns 26,044 shares of the company’s stock worth $2,588,000 after purchasing an additional 718 shares in the last quarter. Finally, Saranac Partners Ltd purchased a new stake in Nestlé during the third quarter valued at approximately $136,000. 27.22% of the stock is owned by hedge funds and other institutional investors.

About Nestlé

Nestlé SA is a Swiss multinational food and beverage company known for a diverse portfolio of products spanning powdered and liquid beverages, dairy products, infant nutrition, pet care, confectionery, bottled water and prepared foods. The company’s well-recognized brands include Nescafé, Nespresso, KitKat, Purina, Gerber, Maggi and Perrier. Nestlé also operates in specialized nutrition and health science, offering medical-nutrition products and weight-management solutions through its Nutrition division.

Founded in 1866 by pharmacist Henri Nestlé, the company’s origins trace back to the invention of “Farine Lactée,” an early infant cereal.