Krispy Kreme, Inc. (NASDAQ:DNUT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its stake in Krispy Kreme, Inc. (NASDAQ:DNUT) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 728,827 shares of the company’s stock after selling 1,143 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.43% of Krispy Kreme worth $7,828,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DNUT. Blue Trust Inc. acquired a new position in Krispy Kreme in the second quarter valued at $68,000. nVerses Capital LLC acquired a new position in Krispy Kreme in the third quarter valued at $124,000. American Century Companies Inc. acquired a new position in Krispy Kreme in the second quarter valued at $185,000. Sei Investments Co. acquired a new position in Krispy Kreme in the second quarter valued at $198,000. Finally, Sargent Investment Group LLC acquired a new position in Krispy Kreme in the third quarter valued at $215,000. 81.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DNUT. JPMorgan Chase & Co. dropped their price target 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. Bank of America upped 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. Morgan Stanley began coverage on Krispy Kreme in a report on Tuesday, November 5th. They issued an “equal weight” rating and a $14.00 price target for the company. Finally, 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. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Krispy Kreme has an average rating of “Moderate Buy” and an average target price of $15.56.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $10.11 on Wednesday. Krispy Kreme, Inc. has a 1 year low of $9.18 and a 1 year high of $17.84. The firm has a 50 day moving average of $11.14 and a 200-day moving average of $10.99. 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 capitalization of $1.72 billion, a P/E ratio of 59.47, a price-to-earnings-growth ratio of 4.30 and a beta of 1.34.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Wednesday, October 23rd. Krispy Kreme’s payout ratio is 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.