Verition Fund Management LLC Grows Stake in Krispy Kreme, Inc. (NASDAQ:DNUT)

Verition Fund Management LLC grew its holdings in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 100.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 711,366 shares of the company’s stock after purchasing an additional 356,803 shares during the quarter. Verition Fund Management LLC’s holdings in Krispy Kreme were worth $7,640,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DNUT. California State Teachers Retirement System increased its position in Krispy Kreme by 3.4% during the 1st quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock valued at $1,289,000 after buying an additional 2,769 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Krispy Kreme during the first quarter valued at about $154,000. Blue Trust Inc. purchased a new position in shares of Krispy Kreme in the 2nd quarter valued at approximately $68,000. OFI Invest Asset Management acquired a new stake in Krispy Kreme in the 2nd quarter worth approximately $451,000. Finally, Benin Management CORP boosted its stake in Krispy Kreme by 74.6% in the 2nd quarter. Benin Management CORP now owns 33,480 shares of the company’s stock worth $360,000 after purchasing an additional 14,300 shares in the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Trading Up 0.3 %

Krispy Kreme stock opened at $11.02 on Monday. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.87 billion, a PE ratio of 64.82, a P/E/G ratio of 4.63 and a beta of 1.39. The stock’s 50 day simple moving average is $11.21 and its two-hundred day simple moving average is $11.06. Krispy Kreme, Inc. has a 12 month low of $9.18 and a 12 month high of $17.84.

Krispy Kreme Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 1.27%. Krispy Kreme’s payout ratio is 82.35%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DNUT. Morgan Stanley began coverage on shares of Krispy Kreme in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price target for the company. Bank of America lifted their price target on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI reissued an “in-line” rating and issued a $13.00 price objective on shares of Krispy Kreme in a report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. decreased their target price on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Four research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.56.

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.