Krispy Kreme (NASDAQ:DNUT) Sets New 52-Week Low - Here's What Happened

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $8.41 and last traded at $8.43, with a volume of 1585048 shares changing hands. The stock had previously closed at $8.62.

Analysts Set New Price Targets

DNUT has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Morgan Stanley cut their price objective on shares of Krispy Kreme from $14.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.25.

Krispy Kreme Trading Down 2.5 %

The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The company's fifty day moving average is $9.31 and its two-hundred day moving average is $10.48. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 3.11 and a beta of 1.34.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.65%. Krispy Kreme's payout ratio is currently 82.35%.

Institutional Trading of Krispy Kreme

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNUT. Spartan Fund Management Inc. raised its holdings in Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company's stock worth $50,000 after purchasing an additional 3,000 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Krispy Kreme during the third quarter worth approximately $51,000. Central Pacific Bank Trust Division acquired a new stake in Krispy Kreme during the fourth quarter worth approximately $71,000. Blue Trust Inc. increased its holdings in shares of Krispy Kreme by 28.3% in the 3rd 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. Finally, First Hawaiian Bank purchased a new stake in Krispy Kreme in the 4th quarter valued at $111,000. 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.