JPMorgan Chase & Co. Issues Pessimistic Forecast for Krispy Kreme (NASDAQ:DNUT) Stock Price

Krispy Kreme (NASDAQ:DNUT) had its price target trimmed by JPMorgan Chase & Co. from $14.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also commented on the company. Hsbc Global Res raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Evercore ISI reissued an “in-line” rating and set a $13.00 price objective on shares of Krispy Kreme in a research note on Tuesday, August 27th. HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, July 23rd. Morgan Stanley assumed coverage on 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. Finally, Bank of America lifted their price objective on Krispy Kreme from $15.00 to $16.00 and gave the company 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 company. According to data from MarketBeat.com, Krispy Kreme currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.56.

Krispy Kreme Trading Down 2.6 %

Shares of DNUT opened at $11.31 on Tuesday. Krispy Kreme has a 1-year low of $9.18 and a 1-year high of $17.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.26. The firm has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $11.20. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 66.53, a price-to-earnings-growth ratio of 2.91 and a beta of 1.39.

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio (DPR) is currently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its stake in shares of Krispy Kreme by 2.6% in the 1st quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock valued at $148,305,000 after purchasing an additional 246,600 shares in the last quarter. Vanguard Group Inc. lifted its position in Krispy Kreme by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock valued at $130,237,000 after buying an additional 67,130 shares in the last quarter. Banco Santander S.A. grew its stake in 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 buying an additional 21,723 shares during the period. Dimensional Fund Advisors LP increased its position 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 worth $40,670,000 after acquiring an additional 1,042,345 shares in the last quarter. Finally, Millennium Management LLC raised its stake 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 valued at $37,669,000 after acquiring an additional 2,021,974 shares during the period. 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.