Krispy Kreme (NASDAQ:DNUT) Trading Down 2.9% – Time to Sell?

Krispy Kreme, Inc. (NASDAQ:DNUT) shares were down 2.9% during mid-day trading on Friday . The company traded as low as $9.39 and last traded at $9.46. Approximately 1,132,017 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 1,996,711 shares. The stock had previously closed at $9.74.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Morgan Stanley started coverage on Krispy Kreme in a report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 target price on the stock. Evercore ISI reaffirmed an “in-line” rating and set a $13.00 price target on shares of Krispy Kreme in a research note on Tuesday, August 27th. Finally, Bank of America boosted their price objective on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.56.

Krispy Kreme Trading Down 3.8 %

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’s 50 day moving average price is $11.01 and its 200 day moving average price is $10.95. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 4.21 and a beta of 1.34.

Krispy Kreme Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a $0.035 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $0.14 dividend on an annualized basis and a yield of 1.49%. Krispy Kreme’s payout ratio is presently 82.35%.

Institutional Trading of Krispy Kreme

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new position in Krispy Kreme during the 2nd quarter valued at $68,000. Signaturefd LLC lifted its stake in shares of Krispy Kreme by 21.0% in the second quarter. Signaturefd LLC now owns 50,109 shares of the company’s stock valued at $539,000 after buying an additional 8,710 shares during the period. American Century Companies Inc. acquired a new stake in Krispy Kreme during the second quarter worth about $185,000. Dimensional Fund Advisors LP increased its stake in Krispy Kreme by 38.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock valued at $40,670,000 after acquiring an additional 1,042,345 shares during the period. Finally, Hollencrest Capital Management bought a new stake in shares of Krispy Kreme during the second quarter valued at approximately $323,000. Institutional investors own 81.72% of the company’s stock.

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.