Krispy Kreme (NASDAQ:DNUT) Trading Down 2.9% – Here’s What Happened

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

Wall Street Analyst Weigh In

DNUT has been the topic of several research analyst reports. Bank of America boosted their price target on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI reissued an “in-line” rating and issued a $13.00 price objective on shares of Krispy Kreme in a research note on Tuesday, August 27th. JPMorgan Chase & Co. reduced their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Morgan Stanley assumed coverage on shares of Krispy Kreme in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price objective for the company. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.56.

Krispy Kreme Trading Down 3.8 %

The business has a 50 day simple moving average of $11.01 and a 200-day simple moving average of $10.95. 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 $1.59 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 Announces Dividend

The firm also recently declared 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. This represents a $0.14 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Wednesday, January 22nd. Krispy Kreme’s dividend payout ratio (DPR) is 82.35%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in Krispy Kreme by 30.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,467 shares of the company’s stock valued at $158,000 after purchasing an additional 3,395 shares during the period. Geode Capital Management LLC grew its position in Krispy Kreme by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,099,645 shares of the company’s stock worth $22,555,000 after purchasing an additional 48,203 shares during the last quarter. Barclays PLC raised its holdings in shares of Krispy Kreme by 450.6% during the third quarter. Barclays PLC now owns 169,209 shares of the company’s stock valued at $1,816,000 after buying an additional 138,475 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Krispy Kreme by 2.5% during the third quarter. Stifel Financial Corp now owns 38,658 shares of the company’s stock worth $415,000 after buying an additional 958 shares during the period. Finally, Point72 DIFC Ltd bought a new position in Krispy Kreme in the 3rd quarter worth approximately $51,000. 81.72% of the stock is currently owned by 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.