Krispy Kreme (NASDAQ:DNUT) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Krispy Kreme (NASDAQ:DNUT) in a research report released on Tuesday. The brokerage issued an equal weight rating and a $14.00 price target on the stock.

A number of other research firms also recently commented on DNUT. HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, July 23rd. Bank of America upped 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. Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI reissued an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a report on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Krispy Kreme presently has an average rating of “Moderate Buy” and an average price target of $15.67.

Krispy Kreme Stock Down 4.5 %

DNUT opened at $11.86 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.34 and a quick ratio of 0.26. Krispy Kreme has a 12 month low of $9.18 and a 12 month high of $17.84. The stock has a market capitalization of $2.01 billion, a P/E ratio of -39.52, a P/E/G ratio of 2.98 and a beta of 1.39. The business has a 50 day simple moving average of $11.42 and a 200-day simple moving average of $11.26.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Thursday, August 8th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $435.43 million. During the same quarter last year, the company earned $0.04 earnings per share. Krispy Kreme’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Krispy Kreme will post 0.13 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $0.14 annualized dividend and a dividend yield of 1.18%. Krispy Kreme’s dividend payout ratio is currently -46.67%.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds have recently modified their holdings of DNUT. Connable Office Inc. raised its position in shares of Krispy Kreme by 98.3% in the third quarter. Connable Office Inc. now owns 29,968 shares of the company’s stock valued at $322,000 after buying an additional 14,859 shares during the last quarter. Sargent Investment Group LLC purchased a new stake in Krispy Kreme in the 3rd quarter worth approximately $215,000. Versor Investments LP acquired a new position in Krispy Kreme in the 3rd quarter valued at $411,000. Walkner Condon Financial Advisors LLC purchased a new position in shares of Krispy Kreme during the 3rd quarter worth $346,000. Finally, Blue Trust Inc. boosted its holdings in shares of Krispy Kreme by 28.3% during the third quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after purchasing an additional 1,779 shares during the last quarter. 81.72% of the stock is 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.