Krispy Kreme (NASDAQ:DNUT) Hits New 12-Month Low – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT) reached a new 52-week low during trading on Monday . The stock traded as low as $9.02 and last traded at $9.06, with a volume of 110942 shares traded. The stock had previously closed at $9.26.

Wall Street Analyst Weigh In

DNUT has been the topic of a number of analyst reports. Bank of America boosted their price objective on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley assumed coverage on shares of Krispy Kreme in a report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.56.

Krispy Kreme Stock Performance

The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.53 billion, a PE ratio of 52.88, a PEG ratio of 4.15 and a beta of 1.36. The firm’s 50-day simple moving average is $10.31 and its 200-day simple moving average is $10.75.

Krispy Kreme Announces Dividend

The company 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 $0.035 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.56%. Krispy Kreme’s payout ratio is 82.35%.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its position 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 buying an additional 2,021,974 shares in the last quarter. Marshall Wace LLP bought a new position in Krispy Kreme during the 2nd quarter worth about $18,765,000. Samlyn Capital LLC grew its holdings in Krispy Kreme by 120.5% during the 2nd quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock worth $23,997,000 after acquiring an additional 1,218,699 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Krispy Kreme by 38.1% during the 2nd 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 holdings in shares of Krispy Kreme by 6,993.4% in the 3rd 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 in the last quarter. 81.72% of the stock is owned by institutional investors.

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.