Krispy Kreme (NASDAQ:DNUT) Shares Up 8.5% – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT) shares were up 8.5% during trading on Tuesday . The stock traded as high as $9.21 and last traded at $9.28. Approximately 1,007,733 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 1,668,691 shares. The stock had previously closed at $8.55.

Wall Street Analyst Weigh In

Several analysts recently commented on DNUT shares. JPMorgan Chase & Co. lowered their target price on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Morgan Stanley lowered their price target on Krispy Kreme from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Krispy Kreme currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Krispy Kreme Trading Up 1.7 %

The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 54.50, a PEG ratio of 3.19 and a beta of 1.34. 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 firm has a 50-day moving average price of $9.19 and a 200-day moving average price of $10.43.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is presently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

Several large investors have recently modified their holdings of DNUT. BNP Paribas Financial Markets bought a new stake in shares of Krispy Kreme during the 4th quarter worth $152,305,000. Bamco Inc. NY boosted its stake in shares of Krispy Kreme by 24.7% during the 4th quarter. Bamco Inc. NY now owns 13,069,717 shares of the company’s stock worth $129,782,000 after acquiring an additional 2,588,398 shares in the last quarter. Cooper Creek Partners Management LLC boosted its stake in shares of Krispy Kreme by 43.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company’s stock worth $72,139,000 after acquiring an additional 2,186,136 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Krispy Kreme during the 4th quarter worth $10,591,000. Finally, Paloma Partners Management Co boosted 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 worth $9,366,000 after buying an additional 859,774 shares during the period. 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.