Connor Clark & Lunn Investment Management Ltd. Invests $810,000 in Krispy Kreme, Inc. (NASDAQ:DNUT)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 75,438 shares of the company’s stock, valued at approximately $810,000.

A number of other large investors also recently bought and sold shares of the stock. Millennium Management LLC grew its stake 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 worth $37,669,000 after purchasing an additional 2,021,974 shares during the period. Marshall Wace LLP acquired a new stake in Krispy Kreme during the second quarter valued at $18,765,000. Samlyn Capital LLC increased its holdings in 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 buying an additional 1,218,699 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $40,670,000 after acquiring an additional 1,042,345 shares during the period. Finally, Driehaus Capital Management LLC boosted its stake in shares of Krispy Kreme by 121.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock worth $12,814,000 after acquiring an additional 653,637 shares in the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DNUT shares. Morgan Stanley assumed coverage on Krispy Kreme in a research note on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price target for the company. JPMorgan Chase & Co. reduced their target price 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. Evercore ISI reiterated an “in-line” rating and set a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. Finally, Bank of America boosted their price target on shares of Krispy Kreme from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Krispy Kreme presently has an average rating of “Moderate Buy” and an average price target of $15.56.

Krispy Kreme Stock Performance

NASDAQ DNUT opened at $10.99 on Friday. The stock has a fifty day simple moving average of $11.26 and a 200-day simple moving average of $11.07. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.87 billion, a PE ratio of 64.65, a P/E/G ratio of 4.67 and a beta of 1.39. Krispy Kreme, Inc. has a twelve month low of $9.18 and a twelve month high of $17.84.

Krispy Kreme Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend 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.