Krispy Kreme, Inc. (NASDAQ:DNUT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.56.

DNUT has been the topic of several research reports. JPMorgan Chase & Co. cut their target price on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Morgan Stanley initiated coverage on shares of Krispy Kreme in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price objective on the stock. Finally, Bank of America increased their target price on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd.

Krispy Kreme Stock Performance

DNUT opened at $9.82 on Tuesday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 57.76, a P/E/G ratio of 4.21 and a beta of 1.34. The business’s 50-day moving average price is $10.63 and its two-hundred day moving average price is $10.83. Krispy Kreme has a 1 year low of $9.18 and a 1 year high of $17.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28.

Krispy Kreme Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Wednesday, January 22nd. Krispy Kreme’s payout ratio is currently 82.35%.

Institutional Trading of Krispy Kreme

Hedge funds have recently made changes to their positions in the business. Millennium Management LLC increased its holdings in shares of Krispy Kreme by 136.7% during the 2nd quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock worth $37,669,000 after acquiring an additional 2,021,974 shares during the last quarter. Marshall Wace LLP bought a new position in Krispy Kreme during the second quarter worth $18,765,000. Samlyn Capital LLC increased its holdings in shares of Krispy Kreme by 120.5% in the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after purchasing an additional 1,218,699 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Krispy Kreme by 38.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock valued at $40,670,000 after purchasing an additional 1,042,345 shares during the period. Finally, Paloma Partners Management Co raised its position in shares of Krispy Kreme by 6,993.4% in the third quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock valued at $9,366,000 after purchasing an additional 859,774 shares during the period. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Company Profile

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.