Verition Fund Management LLC Increases Stock Holdings in Krispy Kreme, Inc. (NASDAQ:DNUT)

Verition Fund Management LLC boosted its stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 100.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 711,366 shares of the company’s stock after buying an additional 356,803 shares during the period. Verition Fund Management LLC owned approximately 0.42% of Krispy Kreme worth $7,640,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. California State Teachers Retirement System raised its stake in shares of Krispy Kreme by 3.4% in the first quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock valued at $1,289,000 after acquiring an additional 2,769 shares during the period. Tidal Investments LLC bought a new stake in Krispy Kreme in the first quarter worth about $154,000. Blue Trust Inc. purchased a new position in shares of Krispy Kreme during the second quarter valued at approximately $68,000. OFI Invest Asset Management bought a new position in shares of Krispy Kreme during the second quarter valued at approximately $451,000. Finally, Benin Management CORP raised its holdings in shares of Krispy Kreme by 74.6% in the second quarter. Benin Management CORP now owns 33,480 shares of the company’s stock worth $360,000 after buying an additional 14,300 shares during the period. 81.72% of the stock is currently owned by institutional investors.

Krispy Kreme Stock Performance

Shares of NASDAQ:DNUT opened at $11.02 on Monday. The firm has a 50 day moving average of $11.21 and a 200 day moving average of $11.06. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 64.82, a price-to-earnings-growth ratio of 4.63 and a beta of 1.39. Krispy Kreme, Inc. has a 52 week low of $9.18 and a 52 week high of $17.84.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio (DPR) is currently 82.35%.

Analyst Upgrades and Downgrades

DNUT has been the subject of a number of recent analyst reports. Evercore ISI restated an “in-line” rating and set a $13.00 price objective on shares of Krispy Kreme in a report on Tuesday, August 27th. JPMorgan Chase & Co. cut their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley began coverage on shares of Krispy Kreme in a report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price objective for the company. Finally, Bank of America upped their target price on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Krispy Kreme presently has an average rating of “Moderate Buy” and an average price target of $15.56.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.