JPMorgan Chase & Co. Lowers Krispy Kreme (NASDAQ:DNUT) Price Target to $13.00

Krispy Kreme (NASDAQ:DNUT) had its target price decreased by analysts at JPMorgan Chase & Co. from $14.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 19.49% from the company’s previous close.

Several other analysts also recently commented on the company. Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley assumed 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 reiterated an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a report on Tuesday, August 27th. HSBC upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, July 23rd. Finally, 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 report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.56.

Krispy Kreme Trading Down 3.8 %

NASDAQ:DNUT opened at $10.88 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 64.00, a PEG ratio of 2.84 and a beta of 1.39. The firm has a fifty day simple moving average of $11.41 and a two-hundred day simple moving average of $11.20. Krispy Kreme has a 12 month low of $9.18 and a 12 month high of $17.84.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Krispy Kreme by 136.7% during the second quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock valued at $37,669,000 after acquiring an additional 2,021,974 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Krispy Kreme during the 2nd quarter valued at $18,765,000. Samlyn Capital LLC raised its stake in shares of Krispy Kreme by 120.5% during the 2nd quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock worth $23,997,000 after purchasing an additional 1,218,699 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Krispy Kreme by 38.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock worth $40,670,000 after buying an additional 1,042,345 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its position in Krispy Kreme by 121.7% during the second quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock valued at $12,814,000 after buying an additional 653,637 shares during the period. Institutional investors own 81.72% of the company’s stock.

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.