Short Interest in Krispy Kreme, Inc. (NASDAQ:DNUT) Declines By 7.0%

Krispy Kreme, Inc. (NASDAQ:DNUT) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 16,450,000 shares, a decrease of 7.0% from the October 15th total of 17,680,000 shares. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is currently 11.5 days. Currently, 19.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DNUT. Morgan Stanley started coverage on shares of Krispy Kreme in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 target price for 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 research note on Tuesday, November 12th. Evercore ISI reaffirmed an “in-line” rating and set a $13.00 price objective on shares of Krispy Kreme in a research report on Tuesday, August 27th. Bank of America lifted their target price on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.56.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Krispy Kreme by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,099,645 shares of the company’s stock valued at $22,555,000 after purchasing an additional 48,203 shares during the period. Barclays PLC grew its holdings in shares of Krispy Kreme by 450.6% during the 3rd quarter. Barclays PLC now owns 169,209 shares of the company’s stock worth $1,816,000 after purchasing an additional 138,475 shares in the last quarter. Stifel Financial Corp lifted its position in Krispy Kreme by 2.5% in the third quarter. Stifel Financial Corp now owns 38,658 shares of the company’s stock worth $415,000 after purchasing an additional 958 shares during the period. Point72 DIFC Ltd acquired a new stake in Krispy Kreme during the third quarter worth $51,000. Finally, Holocene Advisors LP bought a new stake in Krispy Kreme in the 3rd quarter valued at $1,716,000. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Stock Performance

Shares of Krispy Kreme stock traded down $0.14 during trading on Tuesday, reaching $10.63. The company’s stock had a trading volume of 39,597 shares, compared to its average volume of 2,049,079. The business’s fifty day moving average price is $11.38 and its 200-day moving average price is $11.15. Krispy Kreme has a one year low of $9.18 and a one year high of $17.84. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 63.35, a price-to-earnings-growth ratio of 2.73 and a beta of 1.39. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $0.035 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.32%. Krispy Kreme’s dividend payout ratio (DPR) is presently 82.35%.

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.