JPMorgan Chase & Co. Cuts Krispy Kreme (NASDAQ:DNUT) Price Target to $13.00

Krispy Kreme (NASDAQ:DNUT) had its target price lowered by JPMorgan Chase & Co. from $14.00 to $13.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms also recently weighed in on DNUT. Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 price objective on shares of Krispy Kreme in a report on Tuesday, August 27th. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, July 23rd. Morgan Stanley started coverage on Krispy Kreme in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 target price for the company. Finally, Bank of America increased their price target on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.56.

Krispy Kreme Stock Performance

Shares of NASDAQ:DNUT traded down $0.01 during mid-day trading on Tuesday, reaching $11.07. The company had a trading volume of 195,502 shares, compared to its average volume of 2,057,672. The company’s 50-day moving average price is $11.40 and its 200-day moving average price is $11.20. 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 $1.88 billion, a price-to-earnings ratio of 65.18, a PEG ratio of 2.73 and a beta of 1.39. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67.

Krispy Kreme Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, October 23rd. Krispy Kreme’s payout ratio is 82.35%.

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds and other institutional investors have recently modified their holdings of DNUT. Blue Trust Inc. purchased a new position in shares of Krispy Kreme in the 2nd quarter worth about $68,000. nVerses Capital LLC purchased a new position in shares of Krispy Kreme in the 3rd quarter worth about $124,000. Tidal Investments LLC purchased a new position in shares of Krispy Kreme in the 1st quarter worth about $154,000. American Century Companies Inc. bought a new stake in shares of Krispy Kreme in the 2nd quarter valued at about $185,000. Finally, Sei Investments Co. bought a new stake in shares of Krispy Kreme in the 2nd quarter valued at about $198,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.