Verition Fund Management LLC Acquires 356,803 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

Verition Fund Management LLC boosted its position in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 100.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 711,366 shares of the company's stock after acquiring an additional 356,803 shares during the quarter. Verition Fund Management LLC owned 0.42% of Krispy Kreme worth $7,640,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. bought a new position in shares of Krispy Kreme in the 2nd quarter valued at $68,000. Tidal Investments LLC acquired a new stake in Krispy Kreme in the first quarter valued at about $154,000. nVerses Capital LLC bought a new position in Krispy Kreme in the third quarter valued at about $124,000. American Century Companies Inc. acquired a new position in Krispy Kreme during the second quarter worth about $185,000. Finally, Sei Investments Co. bought a new position in shares of Krispy Kreme in the second quarter worth about $198,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DNUT has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Krispy Kreme in a report on Tuesday, November 5th. They set an "equal weight" rating and a $14.00 price target on the stock. Bank of America boosted their target price on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on Krispy Kreme from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI restated an "in-line" rating and set a $13.00 price objective on shares of Krispy Kreme in a research report on Tuesday, August 27th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.56.

Krispy Kreme Trading Down 0.6 %

Shares of DNUT stock traded down $0.07 on Monday, hitting $10.95. The company had a trading volume of 1,238,001 shares, compared to its average volume of 2,016,230. The firm has a market cap of $1.86 billion, a P/E ratio of 64.41, a P/E/G ratio of 4.63 and a beta of 1.39. The stock's 50-day moving average is $11.21 and its two-hundred day moving average is $11.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. Krispy Kreme, Inc. has a twelve month low of $9.18 and a twelve month high of $17.84.

Krispy Kreme Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Wednesday, October 23rd. Krispy Kreme's dividend payout ratio (DPR) is presently 82.35%.

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.