Krispy Kreme (NASDAQ:DNUT) Sets New 12-Month Low – Here’s What Happened

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.16 and last traded at $7.04, with a volume of 356700 shares. The stock had previously closed at $9.13.

Wall Street Analyst Weigh In

A number of research firms recently commented on DNUT. JPMorgan Chase & Co. lowered 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. Morgan Stanley cut their price target on Krispy Kreme from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Krispy Kreme currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.25.

Krispy Kreme Stock Performance

The stock has a market cap of $1.19 billion, a P/E ratio of 40.58, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The company has a 50 day simple moving average of $9.17 and a 200-day simple moving average of $10.43.

Krispy Kreme Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a yield of 2.01%. Krispy Kreme’s payout ratio is 82.35%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DNUT. Blue Trust Inc. grew its holdings in Krispy Kreme by 28.3% in the 3rd quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after acquiring an additional 1,779 shares during the last quarter. Walkner Condon Financial Advisors LLC purchased a new stake in Krispy Kreme in the third quarter worth $346,000. Versor Investments LP bought a new position in Krispy Kreme in the 3rd quarter worth $411,000. Sargent Investment Group LLC purchased a new stake in shares of Krispy Kreme in the 3rd quarter worth about $215,000. Finally, Connable Office Inc. boosted its stake in shares of Krispy Kreme by 98.3% during the 3rd quarter. Connable Office Inc. now owns 29,968 shares of the company’s stock valued at $322,000 after purchasing an additional 14,859 shares in the last quarter. Institutional investors own 81.72% of the company’s stock.

Krispy Kreme Company 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.