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

Krispy Kreme, Inc. (NASDAQ:DNUT) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $8.41 and last traded at $8.43, with a volume of 1585048 shares trading hands. The stock had previously closed at $8.62.

Analysts Set New Price Targets

A number of research firms have commented on DNUT. Bank of America increased their price objective on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley lowered their price target on shares of 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Krispy Kreme has an average rating of “Moderate Buy” and an average target price of $15.25.

Krispy Kreme Price Performance

The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 50.12, a PEG ratio of 3.11 and a beta of 1.34. The stock’s 50-day simple moving average is $9.39 and its 200 day simple moving average is $10.51.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.64%. Krispy Kreme’s payout ratio is currently 82.35%.

Institutional Trading of Krispy Kreme

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNUT. Point72 DIFC Ltd acquired a new stake in shares of Krispy Kreme in the third quarter valued at $51,000. Central Pacific Bank Trust Division purchased a new stake in Krispy Kreme during the fourth quarter worth about $71,000. Blue Trust Inc. lifted its position in shares of Krispy Kreme by 28.3% during the third quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after purchasing an additional 1,779 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of Krispy Kreme in the fourth quarter valued at approximately $111,000. Finally, nVerses Capital LLC purchased a new stake in Krispy Kreme during the 3rd quarter worth approximately $124,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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.