Krispy Kreme (NASDAQ:DNUT) Trading 8.5% Higher – What’s Next?

Krispy Kreme, Inc. (NASDAQ:DNUT) shares traded up 8.5% on Tuesday . The stock traded as high as $9.21 and last traded at $9.28. 1,007,733 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 1,668,691 shares. The stock had previously closed at $8.55.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Morgan Stanley decreased their target price on shares of Krispy Kreme from $14.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target 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. Finally, Bank of America raised their price target 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. Three research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Krispy Kreme Price Performance

The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 3.11 and a beta of 1.34. The stock’s 50 day moving average price is $9.23 and its two-hundred day moving average price is $10.44. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67.

Krispy Kreme Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.54%. Krispy Kreme’s payout ratio is currently 82.35%.

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new stake in shares of Krispy Kreme in the third quarter worth $51,000. Spartan Fund Management Inc. grew its position in Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after buying an additional 3,000 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Krispy Kreme during the fourth quarter valued at $71,000. Blue Trust Inc. grew its position in Krispy Kreme by 28.3% during the third quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock valued at $87,000 after buying an additional 1,779 shares during the period. Finally, First Hawaiian Bank acquired a new stake in Krispy Kreme during the fourth quarter valued at $111,000. Institutional investors and hedge funds own 81.72% of the company’s stock.

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.