Krispy Kreme, Inc. (NASDAQ:DNUT) Short Interest Down 10.0% in October

Krispy Kreme, Inc. (NASDAQ:DNUT) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 17,680,000 shares, a decline of 10.0% from the September 30th total of 19,640,000 shares. Approximately 21.4% of the company’s shares are sold short. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is presently 12.5 days.

Krispy Kreme Trading Up 1.5 %

Shares of NASDAQ DNUT opened at $11.37 on Friday. 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 stock has a market capitalization of $1.93 billion, a P/E ratio of -37.90, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41. Krispy Kreme has a 1-year low of $9.18 and a 1-year high of $17.84. The business has a fifty day moving average price of $11.31 and a 200 day moving average price of $11.33.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period in the prior year, the company posted $0.04 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Krispy Kreme will post 0.13 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.23%. The ex-dividend date is Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is currently -46.67%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DNUT. Blue Trust Inc. acquired a new position in Krispy Kreme during the 2nd quarter valued at about $68,000. nVerses Capital LLC acquired a new position in Krispy Kreme during the 3rd quarter valued at about $124,000. Tidal Investments LLC acquired a new position in shares of Krispy Kreme in the first quarter valued at about $154,000. American Century Companies Inc. acquired a new position in shares of Krispy Kreme in the second quarter valued at about $185,000. Finally, Sei Investments Co. acquired a new position in shares of Krispy Kreme in the second quarter valued at about $198,000. 81.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DNUT has been the subject of a number of recent analyst reports. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, July 23rd. Evercore ISI reiterated an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a report on Tuesday, August 27th. Bank of America upped their target price on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Krispy Kreme has an average rating of “Moderate Buy” and a consensus price target of $15.88.

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.