Krispy Kreme, Inc. (NASDAQ:DNUT) to Issue $0.04 Quarterly Dividend

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Stockholders of record on Wednesday, January 22nd will be paid a dividend of 0.035 per share on Wednesday, February 5th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Wednesday, January 22nd.

Krispy Kreme has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Krispy Kreme to earn $0.16 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 87.5%.

Krispy Kreme Price Performance

Shares of Krispy Kreme stock traded up $0.03 during midday trading on Tuesday, hitting $9.73. 1,622,328 shares of the company traded hands, compared to its average volume of 2,000,546. Krispy Kreme has a 12 month low of $9.18 and a 12 month high of $17.84. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 57.06, a PEG ratio of 4.21 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. The firm’s fifty day moving average price is $11.07 and its 200-day moving average price is $10.97.

Analyst Upgrades and Downgrades

DNUT has been the topic of several recent research reports. Evercore ISI reiterated an “in-line” rating and set a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. JPMorgan Chase & Co. lowered their target price on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Bank of America raised their price objective on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley initiated coverage on shares of Krispy Kreme in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 target price on the stock. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.56.

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.