Short Interest in Krispy Kreme, Inc. (NASDAQ:DNUT) Increases By 8.1%

Krispy Kreme, Inc. (NASDAQ:DNUT) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 19,640,000 shares, a growth of 8.1% from the September 15th total of 18,160,000 shares. Based on an average trading volume of 1,570,000 shares, the days-to-cover ratio is currently 12.5 days. Approximately 23.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have commented on DNUT shares. Hsbc Global Res raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. HSBC raised Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 23rd. Evercore ISI reiterated an “in-line” rating and set a $13.00 price objective on shares of Krispy Kreme in a research note on Tuesday, August 27th. Finally, Bank of America cut their price target on shares of Krispy Kreme from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Three investment 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 company’s stock. According to MarketBeat.com, Krispy Kreme presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.88.

Institutional Investors Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Krispy Kreme by 136.7% during the 2nd quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock valued at $37,669,000 after acquiring an additional 2,021,974 shares during the period. Marshall Wace LLP acquired a new position in shares of Krispy Kreme in the second quarter worth $18,765,000. Samlyn Capital LLC increased its position in shares of Krispy Kreme by 120.5% during the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock worth $23,997,000 after acquiring an additional 1,218,699 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Krispy Kreme by 38.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock valued at $40,670,000 after acquiring an additional 1,042,345 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its holdings in Krispy Kreme by 121.7% in the second quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock valued at $12,814,000 after purchasing an additional 653,637 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Price Performance

NASDAQ DNUT traded down $0.02 during trading hours on Thursday, reaching $11.47. The company’s stock had a trading volume of 667,429 shares, compared to its average volume of 2,090,108. Krispy Kreme has a 1-year low of $9.18 and a 1-year high of $17.84. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -42.48, a P/E/G ratio of 3.15 and a beta of 1.41. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.34 and a quick ratio of 0.26. The company’s 50-day moving average is $11.15 and its two-hundred day moving average is $11.56.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The company had revenue of $438.80 million for the quarter, compared to analyst estimates of $435.43 million. During the same quarter last year, the firm posted $0.04 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Krispy Kreme will post 0.13 EPS for the current year.

Krispy Kreme Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $0.035 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $0.14 annualized dividend and a yield of 1.22%. Krispy Kreme’s payout ratio is -51.85%.

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.