Krispy Kreme (NASDAQ:DNUT) Price Target Cut to $12.00 by Analysts at Morgan Stanley

Krispy Kreme (NASDAQ:DNUT) had its price objective decreased by Morgan Stanley from $14.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 39.86% from the company’s current price.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Bank of America raised their price objective on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.33.

Krispy Kreme Price Performance

Shares of NASDAQ DNUT opened at $8.58 on Tuesday. 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 stock has a market cap of $1.46 billion, a P/E ratio of 50.47, a PEG ratio of 2.89 and a beta of 1.36. The business’s fifty day simple moving average is $10.06 and its 200-day simple moving average is $10.71. Krispy Kreme has a 12-month low of $8.44 and a 12-month high of $17.84.

Institutional Investors Weigh In On Krispy Kreme

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in Krispy Kreme in the 3rd quarter valued at approximately $51,000. Central Pacific Bank Trust Division purchased a new position in Krispy Kreme in the fourth quarter worth $71,000. Blue Trust Inc. lifted its holdings in Krispy Kreme by 28.3% in the third quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock valued at $87,000 after acquiring an additional 1,779 shares during the period. First Hawaiian Bank acquired a new position in shares of Krispy Kreme during the 4th quarter worth $111,000. Finally, nVerses Capital LLC acquired a new position in shares of Krispy Kreme during the 3rd quarter worth $124,000. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Company Profile

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.