Krispy Kreme (NASDAQ:DNUT) Shares Up 8.5% – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT)’s share price traded up 8.5% on Tuesday . The stock traded as high as $9.21 and last traded at $9.28. 1,007,733 shares were traded during 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 have recently commented on the company. Morgan Stanley lowered their price objective on 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. 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. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.25.

Krispy Kreme Stock Performance

The stock has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $10.43. 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 stock has a market cap of $1.58 billion, a PE ratio of 54.50, a P/E/G ratio of 3.19 and a beta of 1.34.

Krispy Kreme Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently 82.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNUT. Blue Trust Inc. lifted its holdings in Krispy Kreme by 28.3% during the 3rd quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after buying an additional 1,779 shares during the last quarter. Walkner Condon Financial Advisors LLC bought a new position in Krispy Kreme during the 3rd quarter worth approximately $346,000. Versor Investments LP bought a new position in Krispy Kreme during the 3rd quarter worth approximately $411,000. Sargent Investment Group LLC bought a new position in Krispy Kreme during the 3rd quarter worth approximately $215,000. Finally, Connable Office Inc. lifted its holdings in Krispy Kreme by 98.3% during the 3rd quarter. Connable Office Inc. now owns 29,968 shares of the company’s stock worth $322,000 after buying an additional 14,859 shares during the last quarter. Hedge funds and other institutional investors 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.