Connor Clark & Lunn Investment Management Ltd. Takes $810,000 Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,438 shares of the company’s stock, valued at approximately $810,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DNUT. Blue Trust Inc. purchased a new stake in shares of Krispy Kreme during 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 purchased a new stake in shares of Krispy Kreme during the first quarter valued at about $154,000. American Century Companies Inc. purchased a new stake in shares of Krispy Kreme during the second quarter valued at about $185,000. Finally, Sei Investments Co. bought a new stake in shares of Krispy Kreme in the 2nd quarter valued at about $198,000. Institutional investors own 81.72% of the company’s stock.

Krispy Kreme Trading Up 0.6 %

Shares of NASDAQ:DNUT opened at $10.99 on Friday. The business has a 50-day moving average price of $11.26 and a 200-day moving average price of $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. Krispy Kreme, Inc. has a 52-week low of $9.18 and a 52-week high of $17.84. 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 was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Wednesday, October 23rd. Krispy Kreme’s payout ratio is 82.35%.

Wall Street Analysts Forecast Growth

DNUT has been the subject of a number of analyst reports. Bank of America increased their target price on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley initiated coverage on Krispy Kreme in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 target price on the stock. Finally, 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. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.56.

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.