Short Interest in Krispy Kreme, Inc. (NASDAQ:DNUT) Declines By 7.0%

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

Krispy Kreme Trading Up 0.6 %

NASDAQ:DNUT opened at $10.83 on Wednesday. The company’s 50 day moving average is $11.36 and its 200-day moving average is $11.14. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. Krispy Kreme has a 12 month low of $9.18 and a 12 month high of $17.84. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 63.71, a P/E/G ratio of 2.73 and a beta of 1.39.

Krispy Kreme Dividend Announcement

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

Analyst Ratings Changes

DNUT has been the subject of a number of research analyst reports. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley began coverage on Krispy Kreme in a report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 price objective for the company. Evercore ISI restated an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a research note on Tuesday, August 27th. Bank of America raised their price target on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.56.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in Krispy Kreme during the third quarter worth $51,000. Blue Trust Inc. bought a new stake in shares of Krispy Kreme in the 2nd quarter worth approximately $68,000. Tidal Investments LLC acquired a new stake in shares of Krispy Kreme during the 1st quarter worth approximately $154,000. nVerses Capital LLC bought a new stake in shares of Krispy Kreme during the third quarter valued at approximately $124,000. Finally, ProShare Advisors LLC increased its holdings in Krispy Kreme by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock valued at $240,000 after buying an additional 1,239 shares during the period. 81.72% of the stock is owned by institutional investors.

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.