Krispy Kreme (NASDAQ:DNUT) Trading Up 1.4% – Here’s What Happened

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) were up 1.4% during mid-day trading on Friday . The stock traded as high as $9.89 and last traded at $9.87. Approximately 341,475 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,999,605 shares. The stock had previously closed at $9.73.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DNUT. JPMorgan Chase & Co. decreased their price objective on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Bank of America increased their price target on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley initiated coverage on shares of Krispy Kreme in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price objective on the stock. Four 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 stock. According to MarketBeat.com, Krispy Kreme currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.56.

Krispy Kreme Stock Up 0.5 %

The firm’s 50-day simple moving average is $10.81 and its 200 day simple moving average is $10.91. 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 company has a market capitalization of $1.66 billion, a PE ratio of 57.53, a price-to-earnings-growth ratio of 4.21 and a beta of 1.34.

Krispy Kreme Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $0.14 annualized dividend and a yield of 1.43%. Krispy Kreme’s payout ratio is currently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Landscape Capital Management L.L.C. increased its stake in Krispy Kreme by 86.1% in the 3rd 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 in the last quarter. Paloma Partners Management Co grew its holdings in Krispy Kreme by 6,993.4% in the third 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 last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Krispy Kreme in the third quarter valued at $810,000. Samlyn Capital LLC increased its position in shares of Krispy Kreme by 120.5% in the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after buying an additional 1,218,699 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of Krispy Kreme in the 3rd quarter worth about $1,716,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

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.