Franklin Resources Inc. Raises Stock Holdings in Krispy Kreme, Inc. (NASDAQ:DNUT)

Franklin Resources Inc. grew its stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 30.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,467 shares of the company’s stock after acquiring an additional 3,395 shares during the period. Franklin Resources Inc.’s holdings in Krispy Kreme were worth $158,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in shares of Krispy Kreme during the third quarter worth $51,000. Blue Trust Inc. lifted its stake 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 valued at $87,000 after purchasing an additional 1,779 shares during the period. nVerses Capital LLC purchased a new position in shares of Krispy Kreme in the 3rd quarter valued at about $124,000. American Century Companies Inc. acquired a new stake in Krispy Kreme in the 2nd quarter valued at $185,000. Finally, Sei Investments Co. purchased a new position in Krispy Kreme in the 2nd quarter valued at about $198,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Krispy Kreme Price Performance

DNUT opened at $9.73 on Friday. Krispy Kreme, Inc. has a fifty-two week low of $9.18 and a fifty-two week high of $17.84. 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 company’s 50-day moving average price is $10.67 and its 200 day moving average price is $10.85. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 57.24, a price-to-earnings-growth ratio of 4.21 and a beta of 1.34.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $0.035 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $0.14 annualized dividend and a dividend yield of 1.44%. Krispy Kreme’s dividend payout ratio (DPR) is 82.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DNUT. 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 objective for the company. Bank of America raised their price target on Krispy Kreme from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased 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 note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.56.

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.