Short Interest in Krispy Kreme, Inc. (NASDAQ:DNUT) Rises By 10.5%

Krispy Kreme, Inc. (NASDAQ:DNUT) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 18,170,000 shares, an increase of 10.5% from the October 31st total of 16,450,000 shares. Based on an average daily volume of 1,410,000 shares, the days-to-cover ratio is presently 12.9 days. Approximately 21.9% of the shares of the company are short sold.

Krispy Kreme Trading Down 0.6 %

Shares of DNUT traded down $0.07 during trading hours 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 company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $11.21 and its 200 day moving average price is $11.05. 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. Krispy Kreme has a 52-week low of $9.18 and a 52-week high of $17.84.

Krispy Kreme Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is 82.35%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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. Evercore ISI reissued an “in-line” rating and issued a $13.00 price target on shares of Krispy Kreme in a report on Tuesday, August 27th. Morgan Stanley assumed coverage on shares of Krispy Kreme in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price target on the stock. Finally, Bank of America boosted their target price on Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Four 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.56.

Institutional Investors Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its holdings in Krispy Kreme by 4.2% in the 3rd quarter. Bamco Inc. NY now owns 10,481,319 shares of the company’s stock worth $112,569,000 after buying an additional 425,630 shares during the period. Banco Santander S.A. lifted its stake in Krispy Kreme by 0.3% in the third quarter. Banco Santander S.A. now owns 6,916,972 shares of the company’s stock worth $74,288,000 after acquiring an additional 21,723 shares during the period. Dimensional Fund Advisors LP lifted its stake in Krispy Kreme by 38.1% in the second 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. Millennium Management LLC boosted its holdings in Krispy Kreme by 136.7% in the second quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock valued at $37,669,000 after acquiring an additional 2,021,974 shares in the last quarter. Finally, Samlyn Capital LLC increased its position in Krispy Kreme by 120.5% during the 2nd quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after purchasing an additional 1,218,699 shares during the period. 81.72% of the stock is currently owned by institutional investors.

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.