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

Krispy Kreme (NASDAQ:DNUT) had its price objective trimmed by JPMorgan Chase & Co. from $14.00 to $13.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also commented on the company. Evercore ISI reaffirmed an “in-line” rating and set a $13.00 price target on shares of Krispy Kreme in a research report on Tuesday, August 27th. Morgan Stanley initiated 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. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, July 23rd. Bank of America upped their target price on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.56.

Krispy Kreme Trading Down 0.1 %

DNUT traded down $0.01 during midday trading on Tuesday, reaching $11.07. 195,502 shares of the company’s stock traded hands, compared to its average volume of 2,057,672. The firm has a fifty day moving average of $11.40 and a two-hundred day moving average of $11.20. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 65.18, a P/E/G ratio of 2.73 and a beta of 1.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.26. Krispy Kreme has a 52 week low of $9.18 and a 52 week high of $17.84.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $0.035 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $0.14 annualized dividend and a yield of 1.26%. Krispy Kreme’s dividend payout ratio is 82.35%.

Institutional Trading of Krispy Kreme

Several institutional investors have recently added to or reduced their stakes in DNUT. Bamco Inc. NY lifted its holdings in shares of Krispy Kreme by 4.2% during the 3rd quarter. Bamco Inc. NY now owns 10,481,319 shares of the company’s stock valued at $112,569,000 after buying an additional 425,630 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Krispy Kreme by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock valued at $130,237,000 after buying an additional 67,130 shares during the period. Banco Santander S.A. lifted its holdings in shares of Krispy Kreme by 0.3% during the 3rd quarter. Banco Santander S.A. now owns 6,916,972 shares of the company’s stock valued at $74,288,000 after buying an additional 21,723 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 during the period. Finally, Millennium Management LLC lifted its holdings in shares of Krispy Kreme by 136.7% during the 2nd quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock valued at $37,669,000 after buying an additional 2,021,974 shares during the period. 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.