Krispy Kreme (NASDAQ:DNUT) Trading 5.1% Higher – Time to Buy?

Krispy Kreme, Inc. (NASDAQ:DNUT)’s share price shot up 5.1% on Monday . The stock traded as high as $9.44 and last traded at $9.40. 1,476,132 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 1,737,862 shares. The stock had previously closed at $8.94.

Wall Street Analysts Forecast Growth

DNUT has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Bank of America increased their price target on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley decreased their target price on shares of Krispy Kreme from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Krispy Kreme Price Performance

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 55.44, a PEG ratio of 3.04 and a beta of 1.36. The company has a 50 day moving average of $9.88 and a 200 day moving average of $10.67.

Krispy Kreme Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $0.14 dividend on an annualized basis and a yield of 1.48%. Krispy Kreme’s dividend payout ratio is currently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in Krispy Kreme in the third quarter valued at $51,000. Central Pacific Bank Trust Division purchased a new stake in Krispy Kreme during the fourth quarter worth approximately $71,000. Blue Trust Inc. boosted its holdings in Krispy Kreme by 28.3% in the third quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock valued at $87,000 after purchasing an additional 1,779 shares in the last quarter. First Hawaiian Bank purchased a new position in Krispy Kreme in the fourth quarter valued at approximately $111,000. Finally, nVerses Capital LLC acquired a new stake in Krispy Kreme during the third quarter worth approximately $124,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

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.