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

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

DNUT has been the topic of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Bank of America increased their price target on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.33.

Krispy Kreme Stock Performance

Shares of DNUT opened at $8.61 on Tuesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 50.65, a PEG ratio of 2.89 and a beta of 1.36. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $10.01 and its two-hundred day moving average is $10.70. Krispy Kreme has a 52-week low of $8.44 and a 52-week high of $17.84.

Krispy Kreme Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, January 22nd. Krispy Kreme’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Trading of Krispy Kreme

Hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY grew its stake in Krispy Kreme by 4.2% during the 3rd quarter. Bamco Inc. NY now owns 10,481,319 shares of the company’s stock worth $112,569,000 after buying an additional 425,630 shares during the last quarter. Banco Santander S.A. grew its position in shares of Krispy Kreme by 0.3% during the third quarter. Banco Santander S.A. now owns 6,916,972 shares of the company’s stock worth $74,288,000 after acquiring an additional 21,723 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Krispy Kreme by 38.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock worth $40,670,000 after acquiring an additional 1,042,345 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Krispy Kreme by 136.7% in the 2nd quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock worth $37,669,000 after acquiring an additional 2,021,974 shares during the period. Finally, Samlyn Capital LLC boosted its stake in Krispy Kreme by 120.5% during the 2nd quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after purchasing an additional 1,218,699 shares during the period. 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.