Krispy Kreme (NASDAQ:DNUT) Price Target Cut to $13.00 by Analysts at JPMorgan Chase & Co.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $14.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 14.94% from the stock's current price.

DNUT has been the subject of a number of other reports. Evercore ISI restated an "in-line" rating and issued a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. 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 research report on Tuesday, July 23rd. Morgan Stanley initiated coverage on Krispy Kreme in a report on Tuesday, November 5th. They issued an "equal weight" rating and a $14.00 target price for the company. Hsbc Global Res raised Krispy Kreme from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 23rd. Finally, Bank of America upped their target price on shares of Krispy Kreme from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Krispy Kreme has an average rating of "Moderate Buy" and an average target price of $15.56.

Krispy Kreme Stock Performance

NASDAQ:DNUT traded down $0.30 during mid-day trading on Tuesday, hitting $11.31. The stock had a trading volume of 2,362,132 shares, compared to its average volume of 2,068,975. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $11.43 and a 200-day simple moving average of $11.21. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 66.76, a P/E/G ratio of 2.80 and a beta of 1.39. Krispy Kreme has a 52 week low of $9.18 and a 52 week high of $17.84.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Banco Santander S.A. raised its position in Krispy Kreme by 0.3% in the 3rd quarter. Banco Santander S.A. now owns 6,916,972 shares of the company's stock worth $74,288,000 after purchasing an additional 21,723 shares during the last quarter. Landscape Capital Management L.L.C. increased its holdings in Krispy Kreme by 86.1% in the third quarter. Landscape Capital Management L.L.C. now owns 216,559 shares of the company's stock valued at $2,326,000 after purchasing an additional 100,163 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Krispy Kreme in the 3rd quarter valued at approximately $278,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Krispy Kreme during the third quarter worth $810,000. Finally, Connable Office Inc. lifted its holdings in Krispy Kreme by 98.3% during the third quarter. Connable Office Inc. now owns 29,968 shares of the company's stock worth $322,000 after acquiring an additional 14,859 shares in the last quarter. 81.72% of the stock is owned by institutional investors.

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.