Morgan Stanley Begins Coverage on Krispy Kreme (NASDAQ:DNUT)

Morgan Stanley began coverage on shares of Krispy Kreme (NASDAQ:DNUT - Free Report) in a report issued on Tuesday, StockNewsAPI reports. The firm issued an equal weight rating and a $14.00 price target on the stock.

Several other equities research analysts have also recently issued reports on DNUT. Evercore ISI reissued an "in-line" rating and set a $13.00 target price on shares of Krispy Kreme in a research note on Tuesday, August 27th. Bank of America raised their target price on Krispy Kreme from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. HSBC raised Krispy Kreme from a "hold" rating to a "buy" rating and set a $14.00 target price for the company in a research note on Tuesday, July 23rd. Finally, Hsbc Global Res raised Krispy Kreme from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 23rd. Four investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.67.

Krispy Kreme Price Performance

DNUT stock traded up $0.15 during mid-day trading on Tuesday, reaching $11.97. 550,366 shares of the company's stock were exchanged, compared to its average volume of 2,034,618. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -39.40, a price-to-earnings-growth ratio of 2.91 and a beta of 1.39. The stock's 50 day moving average is $11.35 and its 200 day moving average is $11.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.34 and a quick ratio of 0.26. Krispy Kreme has a 12-month low of $9.18 and a 12-month high of $17.84.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $438.80 million for the quarter, compared to the consensus estimate of $435.43 million. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. On average, research analysts expect that Krispy Kreme will post 0.13 EPS for the current year.

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, October 23rd. Krispy Kreme's payout ratio is currently -46.67%.

Hedge Funds Weigh In On Krispy Kreme

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNUT. ProShare Advisors LLC grew its holdings in shares of Krispy Kreme by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 15,739 shares of the company's stock worth $240,000 after acquiring an additional 1,239 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Krispy Kreme by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,819 shares of the company's stock worth $547,000 after acquiring an additional 1,399 shares during the period. Blue Trust Inc. grew 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 worth $87,000 after acquiring an additional 1,779 shares during the period. California State Teachers Retirement System grew its holdings in shares of Krispy Kreme by 3.4% in the 1st quarter. California State Teachers Retirement System now owns 84,610 shares of the company's stock worth $1,289,000 after acquiring an additional 2,769 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Krispy Kreme by 8.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 47,294 shares of the company's stock worth $509,000 after acquiring an additional 3,794 shares during the period. Institutional investors and hedge funds own 81.72% of the company's stock.

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.