Krispy Kreme, Inc. (NASDAQ:DNUT) to Issue Quarterly Dividend of $0.04

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Investors of record on Wednesday, January 22nd will be given a dividend of 0.035 per share on Wednesday, February 5th. This represents a $0.14 annualized dividend and a yield of 1.44%. The ex-dividend date is Wednesday, January 22nd.

Krispy Kreme has a payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Krispy Kreme to earn $0.16 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 87.5%.

Krispy Kreme Price Performance

DNUT stock opened at $9.73 on Wednesday. The company’s 50-day moving average price is $11.05 and its two-hundred day moving average price is $10.97. The firm has a market cap of $1.65 billion, a P/E ratio of 57.24, a P/E/G ratio of 4.21 and a beta of 1.34. 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DNUT. Bank of America lifted their price objective on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. 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 report on Tuesday, November 12th. Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 price objective on shares of Krispy Kreme in a research note on Tuesday, August 27th. Finally, Morgan Stanley assumed coverage on shares of Krispy Kreme in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 target price for the company. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Krispy Kreme presently has a consensus rating of “Moderate Buy” and an average price target of $15.56.

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.