Point72 Asset Management L.P. Trims Stake in Krispy Kreme, Inc. (NASDAQ:DNUT)

Point72 Asset Management L.P. lessened its holdings in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 18.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 38,446 shares of the company’s stock after selling 8,848 shares during the quarter. Point72 Asset Management L.P.’s holdings in Krispy Kreme were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in Krispy Kreme by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 50,819 shares of the company’s stock valued at $547,000 after purchasing an additional 1,399 shares in the last quarter. Blue Trust Inc. increased its stake 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 buying an additional 1,779 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Krispy Kreme by 31.7% during the third quarter. Handelsbanken Fonder AB now owns 29,500 shares of the company’s stock worth $317,000 after purchasing an additional 7,100 shares in the last quarter. Signaturefd LLC grew its holdings in Krispy Kreme by 21.0% during the 2nd quarter. Signaturefd LLC now owns 50,109 shares of the company’s stock valued at $539,000 after buying an additional 8,710 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Krispy Kreme during the third quarter valued at approximately $124,000. Institutional investors own 81.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DNUT shares. JPMorgan Chase & Co. cut their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Bank of America upped 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. Evercore ISI reissued an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a report on Tuesday, August 27th. Finally, Morgan Stanley assumed coverage on shares of Krispy Kreme in a research note on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price target on the stock. Four 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.56.

Krispy Kreme Price Performance

Krispy Kreme stock opened at $10.07 on Friday. Krispy Kreme, Inc. has a 12-month low of $9.18 and a 12-month high of $17.84. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $11.11 and a 200-day moving average price of $10.98. The firm has a market capitalization of $1.71 billion, a PE ratio of 59.24, a price-to-earnings-growth ratio of 4.30 and a beta of 1.34.

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.