Krispy Kreme (NASDAQ:DNUT) Trading Down 2.9% – Here’s Why

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) were down 2.9% on Friday . The stock traded as low as $9.39 and last traded at $9.46. Approximately 1,132,017 shares were traded during trading, a decline of 43% from the average daily volume of 1,996,711 shares. The stock had previously closed at $9.74.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target 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 report on Tuesday, October 22nd. Morgan Stanley assumed coverage on Krispy Kreme in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price objective for the company. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. Four equities research 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’s stock. Based on data from MarketBeat, Krispy Kreme presently has a consensus rating of “Moderate Buy” and an average price target of $15.56.

Krispy Kreme Stock Performance

The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 55.65, a P/E/G ratio of 4.21 and a beta of 1.34. The company’s fifty day simple moving average is $10.97 and its 200 day simple moving average is $10.94. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67.

Krispy Kreme Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a $0.035 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $0.14 dividend on an annualized basis and a yield of 1.48%. Krispy Kreme’s dividend payout ratio (DPR) is currently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds have recently bought and sold shares of DNUT. Landscape Capital Management L.L.C. grew its position in shares of Krispy Kreme by 86.1% in the third quarter. Landscape Capital Management L.L.C. now owns 216,559 shares of the company’s stock valued at $2,326,000 after purchasing an additional 100,163 shares during the last quarter. Paloma Partners Management Co boosted its stake in 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 during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Krispy Kreme in the 3rd quarter valued at $810,000. Samlyn Capital LLC increased its position 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 buying an additional 1,218,699 shares during the period. Finally, Holocene Advisors LP acquired a new stake in shares of Krispy Kreme during the third quarter worth $1,716,000. 81.72% of the stock is currently 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.