Krispy Kreme (NASDAQ:DNUT) Trading 1.4% Higher – Still a Buy?

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price rose 1.4% during mid-day trading on Friday . The stock traded as high as $9.89 and last traded at $9.87. Approximately 341,475 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,999,605 shares. The stock had previously closed at $9.73.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DNUT shares. Bank of America boosted their price objective 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. Morgan Stanley assumed coverage on shares of Krispy Kreme in a research report on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Krispy Kreme has a consensus rating of “Moderate Buy” and an average price target of $15.56.

Krispy Kreme Price Performance

The company’s 50 day simple moving average is $10.84 and its 200 day simple moving average is $10.92. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.66 billion, a PE ratio of 57.35, a PEG ratio of 4.21 and a beta of 1.34.

Krispy Kreme Announces Dividend

The firm 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 of this dividend is Wednesday, January 22nd. This represents a $0.14 annualized dividend and a yield of 1.44%. Krispy Kreme’s payout ratio is currently 82.35%.

Institutional Trading of Krispy Kreme

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its holdings in shares of Krispy Kreme by 21.0% during the 2nd quarter. Signaturefd LLC now owns 50,109 shares of the company’s stock worth $539,000 after acquiring an additional 8,710 shares during the period. American Century Companies Inc. purchased a new position in Krispy Kreme during the second quarter worth approximately $185,000. Dimensional Fund Advisors LP boosted its holdings in shares of Krispy Kreme by 38.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock valued at $40,670,000 after purchasing an additional 1,042,345 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of Krispy Kreme during the 2nd quarter valued at $323,000. Finally, Sei Investments Co. acquired a new stake in shares of Krispy Kreme during the 2nd quarter worth $198,000. 81.72% of the stock is owned by institutional investors and hedge funds.

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.