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

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $9.02 and last traded at $9.06, with a volume of 110942 shares trading hands. The stock had previously closed at $9.26.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DNUT shares. Morgan Stanley initiated coverage on Krispy Kreme in a research report on Tuesday, November 5th. They issued an "equal weight" rating and a $14.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Finally, Bank of America increased their price objective 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 assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.56.

Krispy Kreme Price Performance

The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 53.94, a PEG ratio of 4.15 and a beta of 1.34. 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 business has a 50-day moving average price of $10.38 and a two-hundred day moving average price of $10.76.

Krispy Kreme Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, January 22nd. Krispy Kreme's dividend payout ratio is presently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. acquired a new position in shares of Krispy Kreme during the second quarter worth approximately $185,000. Dimensional Fund Advisors LP boosted its position in Krispy Kreme by 38.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company's stock worth $40,670,000 after acquiring an additional 1,042,345 shares during the period. Hollencrest Capital Management acquired a new position in Krispy Kreme during the 2nd quarter worth $323,000. Sei Investments Co. bought a new position in shares of Krispy Kreme in the second quarter worth $198,000. Finally, Gabelli Funds LLC increased its holdings in shares of Krispy Kreme by 180.0% during the second quarter. Gabelli Funds LLC now owns 70,000 shares of the company's stock valued at $753,000 after purchasing an additional 45,000 shares during the period. 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.