Blueshift Asset Management LLC Invests $348,000 in Krispy Kreme, Inc. (NASDAQ:DNUT)

Blueshift Asset Management LLC purchased a new position in Krispy Kreme, Inc. (NASDAQ:DNUT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 32,418 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DNUT. Blue Trust Inc. bought a new position in Krispy Kreme in the 2nd quarter worth $68,000. nVerses Capital LLC bought a new position in Krispy Kreme in the third quarter worth about $124,000. Tidal Investments LLC bought a new stake in Krispy Kreme during the 1st quarter valued at approximately $154,000. American Century Companies Inc. purchased a new position in shares of Krispy Kreme during the 2nd quarter worth approximately $185,000. Finally, Sei Investments Co. bought a new position in shares of Krispy Kreme in the 2nd quarter worth approximately $198,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DNUT shares. Bank of America lifted their price target on Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Morgan Stanley started coverage on shares of 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 reiterated an “in-line” rating and issued a $13.00 price target on shares of Krispy Kreme in a research note on Tuesday, August 27th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Four equities 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 stock. According to MarketBeat, Krispy Kreme presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.56.

Krispy Kreme Stock Performance

Shares of Krispy Kreme stock opened at $10.99 on Friday. Krispy Kreme, Inc. has a 1 year low of $9.18 and a 1 year high of $17.84. The firm’s 50-day moving average is $11.26 and its 200 day moving average is $11.07. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 64.65, a PEG ratio of 4.67 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 0.28.

Krispy Kreme Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Wednesday, October 23rd. Krispy Kreme’s payout ratio is 82.35%.

Krispy Kreme 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.