Morgan Stanley Lowers Krispy Kreme (NASDAQ:DNUT) Price Target to $12.00

Krispy Kreme (NASDAQ:DNUT) had its target price trimmed by Morgan Stanley from $14.00 to $12.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts have also issued reports about the company. Bank of America raised their target price on Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Krispy Kreme Stock Up 0.9 %

Krispy Kreme stock opened at $8.78 on Tuesday. 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 stock has a market cap of $1.49 billion, a PE ratio of 51.65, a price-to-earnings-growth ratio of 2.90 and a beta of 1.36. Krispy Kreme has a fifty-two week low of $8.44 and a fifty-two week high of $17.84. The firm’s 50-day simple moving average is $9.92 and its 200 day simple moving average is $10.67.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $0.14 annualized dividend and a yield of 1.59%. Krispy Kreme’s dividend payout ratio is currently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. purchased a new stake in Krispy Kreme in the second quarter valued at approximately $185,000. Dimensional Fund Advisors LP raised its position in shares of Krispy Kreme by 38.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock valued at $40,670,000 after buying an additional 1,042,345 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Krispy Kreme during the 2nd quarter worth $198,000. Gabelli Funds LLC grew its position in Krispy Kreme by 180.0% in the second quarter. Gabelli Funds LLC now owns 70,000 shares of the company’s stock worth $753,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Samlyn Capital LLC increased its stake in Krispy Kreme by 120.5% in the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after acquiring an additional 1,218,699 shares during the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.