The Manufacturers Life Insurance Company Purchases 1,399 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

The Manufacturers Life Insurance Company grew its position in Krispy Kreme, Inc. (NASDAQ:DNUT) by 2.8% in the second quarter, HoldingsChannel.com reports. The fund owned 50,819 shares of the company’s stock after buying an additional 1,399 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Krispy Kreme were worth $547,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Bamco Inc. NY raised its stake in shares of Krispy Kreme by 2.6% in the first quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock valued at $148,305,000 after acquiring an additional 246,600 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Krispy Kreme by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock valued at $130,237,000 after acquiring an additional 67,130 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Krispy Kreme by 38.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock valued at $40,670,000 after acquiring an additional 1,042,345 shares during the last quarter. Millennium Management LLC raised its stake in shares of 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 during the last quarter. Finally, Samlyn Capital LLC raised its stake in shares of Krispy Kreme by 120.5% in the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after acquiring an additional 1,218,699 shares during the last quarter. Institutional investors own 81.72% of the company’s stock.

Krispy Kreme Stock Up 3.6 %

Shares of Krispy Kreme stock opened at $11.30 on Wednesday. The business has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $11.56. The stock has a market cap of $1.91 billion, a PE ratio of -41.85, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 0.73. Krispy Kreme, Inc. has a 12 month low of $9.18 and a 12 month high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $438.80 million during the quarter, compared to analyst estimates of $435.43 million. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS. Research analysts predict that Krispy Kreme, Inc. 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. Shareholders of record on Wednesday, October 23rd will be issued a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $0.14 annualized dividend and a yield of 1.24%. Krispy Kreme’s dividend payout ratio (DPR) is presently -51.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on DNUT. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, July 23rd. Bank of America dropped their target price on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $13.00 price target on shares of Krispy Kreme in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

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.