Morgan Stanley Cuts Krispy Kreme (NASDAQ:DNUT) Price Target to $12.00

Krispy Kreme (NASDAQ:DNUT) had its price objective decreased by Morgan Stanley from $14.00 to $12.00 in a report released on Tuesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

DNUT has been the topic of several other 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 report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Krispy Kreme Stock Performance

Shares of Krispy Kreme stock opened at $8.78 on Tuesday. The company’s 50 day moving average price is $9.92 and its two-hundred day moving average price is $10.67. The firm has a market capitalization of $1.49 billion, a P/E ratio of 51.65, a P/E/G ratio of 2.90 and a beta of 1.36. Krispy Kreme has a fifty-two week low of $8.44 and a fifty-two week high of $17.84. 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 will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Wednesday, January 22nd. Krispy Kreme’s dividend payout ratio (DPR) is currently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Krispy Kreme by 264.1% during the 4th quarter. SG Americas Securities LLC now owns 83,869 shares of the company’s stock valued at $833,000 after purchasing an additional 60,833 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Krispy Kreme during the fourth quarter worth about $111,000. Central Pacific Bank Trust Division acquired a new stake in shares of Krispy Kreme in the 4th quarter worth about $71,000. Franklin Resources Inc. lifted its position in Krispy Kreme by 30.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,467 shares of the company’s stock valued at $158,000 after acquiring an additional 3,395 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Krispy Kreme by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,099,645 shares of the company’s stock valued at $22,555,000 after purchasing an additional 48,203 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

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.