Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Krispy Kreme, Inc. (NASDAQ:DNUT) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $15.25.

Several equities research analysts recently issued reports on DNUT shares. JPMorgan Chase & Co. cut their price target on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Bank of America boosted their target price on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley reduced their price objective on shares of Krispy Kreme from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st.

Hedge Funds Weigh In On Krispy Kreme

Institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. raised its holdings in shares of Krispy Kreme by 86.1% during 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 period. Paloma Partners Management Co raised its holdings in shares of Krispy Kreme by 6,993.4% in the 3rd quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock worth $9,366,000 after acquiring an additional 859,774 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Krispy Kreme in the 3rd quarter worth about $810,000. Holocene Advisors LP acquired a new stake in shares of Krispy Kreme in the 3rd quarter worth about $1,716,000. Finally, Barclays PLC raised its holdings in shares of Krispy Kreme by 450.6% in the 3rd quarter. Barclays PLC now owns 169,209 shares of the company’s stock worth $1,816,000 after acquiring an additional 138,475 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Trading Up 6.5 %

DNUT stock opened at $9.11 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. Krispy Kreme has a 52 week low of $8.34 and a 52 week high of $17.84. The company’s 50-day simple moving average is $9.23 and its 200 day simple moving average is $10.44. The company has a market capitalization of $1.55 billion, a PE ratio of 53.59, a price-to-earnings-growth ratio of 3.11 and a beta of 1.34.

Krispy Kreme Announces Dividend

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 issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 1.54%. Krispy Kreme’s dividend payout ratio is currently 82.35%.

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.