Krispy Kreme (NASDAQ:DNUT) Price Target Cut to $13.00 by Analysts at JPMorgan Chase & Co.

Krispy Kreme (NASDAQ:DNUT) had its price objective dropped by analysts at JPMorgan Chase & Co. from $14.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.49% from the stock’s previous close.

DNUT has been the subject of a number of other research reports. Bank of America increased their target price 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. HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, July 23rd. Morgan Stanley started coverage on shares of Krispy Kreme in a report on Tuesday, November 5th. They set an “equal weight” rating and a $14.00 target price on the stock. Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 price target on shares of Krispy Kreme in a report on Tuesday, August 27th. Finally, Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.56.

Krispy Kreme Stock Down 3.8 %

Shares of NASDAQ DNUT opened at $10.88 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.26. The stock has a market capitalization of $1.85 billion, a PE ratio of 64.00, a P/E/G ratio of 2.84 and a beta of 1.39. Krispy Kreme has a one year low of $9.18 and a one year high of $17.84. The business’s fifty day moving average price is $11.41 and its 200-day moving average price is $11.20.

Hedge Funds Weigh In On Krispy Kreme

A number of institutional investors have recently added to or reduced their stakes in DNUT. Millennium Management LLC boosted its position in shares of Krispy Kreme by 136.7% during the 2nd 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 during the last quarter. Marshall Wace LLP purchased a new stake in Krispy Kreme in the second quarter valued at approximately $18,765,000. Samlyn Capital LLC lifted its position in Krispy Kreme by 120.5% during the second 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 last quarter. Dimensional Fund Advisors LP grew its stake in Krispy Kreme by 38.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock worth $40,670,000 after buying an additional 1,042,345 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in shares of Krispy Kreme by 121.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock worth $12,814,000 after buying an additional 653,637 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors.

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.