A number of other research firms also recently weighed in on DNUT. Morgan Stanley dropped their price target on Krispy Kreme from $16.00 to $15.00 and set an overweight rating on the stock in a research note on Tuesday, October 11th. HSBC downgraded Krispy Kreme from a buy rating to a hold rating and dropped their price target for the stock from $17.00 to $15.00 in a research note on Friday, August 19th. Finally, The Goldman Sachs Group dropped their price target on Krispy Kreme from $14.00 to $12.00 and set a sell rating on the stock in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $16.14.
Krispy Kreme Stock Up 3.5 %
Shares of NASDAQ:DNUT opened at $15.23 on Wednesday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -217.54, a P/E/G ratio of 4.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.34 and a quick ratio of 0.22. The business’s 50-day moving average is $13.19 and its 200-day moving average is $13.47. Krispy Kreme has a 1 year low of $11.25 and a 1 year high of $19.55.
Krispy Kreme Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 9th. Shareholders of record on Wednesday, October 26th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.92%. The ex-dividend date was Tuesday, October 25th. Krispy Kreme’s dividend payout ratio (DPR) is -199.97%.
Hedge Funds Weigh In On Krispy Kreme
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Krispy Kreme by 11.9% during the third quarter. Vanguard Group Inc. now owns 6,329,508 shares of the company’s stock valued at $72,979,000 after purchasing an additional 675,436 shares during the period. BlackRock Inc. grew its holdings in Krispy Kreme by 13.9% during the third quarter. BlackRock Inc. now owns 4,618,952 shares of the company’s stock valued at $53,257,000 after purchasing an additional 561,979 shares during the period. Samlyn Capital LLC bought a new position in Krispy Kreme during the second quarter valued at $30,789,000. GW&K Investment Management LLC grew its holdings in Krispy Kreme by 317.4% during the first quarter. GW&K Investment Management LLC now owns 1,776,787 shares of the company’s stock valued at $26,386,000 after purchasing an additional 1,351,117 shares during the period. Finally, State Street Corp grew its holdings in Krispy Kreme by 5.9% during the third quarter. State Street Corp now owns 1,505,051 shares of the company’s stock valued at $17,353,000 after purchasing an additional 83,311 shares during the period. 76.51% of the stock is owned by institutional investors.
About Krispy Kreme
Krispy Kreme, Inc, together with its subsidiaries, operates through an omni-channel business model to provide doughnut experiences and produce doughnuts. The company operates through three segments: U.S. and Canada, International, and Market Development. It also produces cookies, brownies, cookie cakes, ice cream, cookie-wiches, and cold milk, as well as doughnut mixes, other ingredients, and doughnut-making equipment.
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