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

Morgan Stanley initiated coverage on shares of Krispy Kreme (NASDAQ:DNUT) in a research report report published on Tuesday morning, StockNewsAPI reports. The firm issued an equal weight rating and a $14.00 price objective on the stock.

Several other research analysts have also recently weighed in on DNUT. Evercore ISI reissued an “in-line” rating and set a $13.00 price target on shares of Krispy Kreme in a research report on Tuesday, August 27th. Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Bank of America lifted their price target on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 23rd. Four investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

Krispy Kreme Stock Performance

DNUT opened at $12.21 on Tuesday. The firm has a market capitalization of $2.07 billion, a PE ratio of -40.70, a PEG ratio of 2.91 and a beta of 1.39. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 0.73. Krispy Kreme has a twelve month low of $9.18 and a twelve month high of $17.84. The firm’s 50-day moving average price is $11.35 and its 200 day moving average price is $11.26.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $438.80 million during the quarter, compared to analysts’ expectations of $435.43 million. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, sell-side analysts expect that Krispy Kreme will post 0.13 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $0.14 annualized dividend and a dividend yield of 1.15%. Krispy Kreme’s dividend payout ratio is currently -46.67%.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of Krispy Kreme in the second quarter valued at approximately $68,000. Tidal Investments LLC acquired a new position in shares of Krispy Kreme in the first quarter worth $154,000. nVerses Capital LLC purchased a new stake in shares of Krispy Kreme during the third quarter worth $124,000. Sciencast Management LP purchased a new position in Krispy Kreme in the first quarter valued at $223,000. Finally, ProShare Advisors LLC grew its stake in Krispy Kreme by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock worth $240,000 after purchasing an additional 1,239 shares in the last quarter. Institutional investors and hedge funds 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.