Krispy Kreme, Inc. (NASDAQ:DNUT) Sees Significant Drop in Short Interest

Krispy Kreme, Inc. (NASDAQ:DNUT) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 16,450,000 shares, a decline of 7.0% from the October 15th total of 17,680,000 shares. Approximately 19.9% of the shares of the company are sold short. Based on an average daily volume of 1,430,000 shares, the short-interest ratio is presently 11.5 days.

Krispy Kreme Trading Down 1.7 %

Shares of DNUT opened at $10.89 on Monday. Krispy Kreme has a twelve month low of $9.18 and a twelve month high of $17.84. The stock has a market cap of $1.85 billion, a PE ratio of 64.06, a P/E/G ratio of 2.73 and a beta of 1.39. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $11.39 and its 200-day moving average price is $11.16.

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.29%. The ex-dividend date was Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is presently 82.35%.

Analyst Upgrades and Downgrades

DNUT has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Krispy Kreme in a research report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price target for the company. 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. HSBC raised Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, July 23rd. Hsbc Global Res raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Bank of America lifted their price objective on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Krispy Kreme has an average rating of “Moderate Buy” and a consensus price target of $15.56.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DNUT. Samlyn Capital LLC boosted its stake in Krispy Kreme by 120.5% during the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after buying an additional 1,218,699 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Krispy Kreme by 121.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock valued at $12,814,000 after acquiring an additional 653,637 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Krispy Kreme by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock worth $240,000 after purchasing an additional 1,239 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Krispy Kreme in the second quarter worth approximately $68,000. Finally, California State Teachers Retirement System raised its stake in Krispy Kreme by 3.4% in the first quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock valued at $1,289,000 after purchasing an additional 2,769 shares in the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.