Peregrine Capital Management LLC Invests $5.90 Million in Krispy Kreme, Inc. (NASDAQ:DNUT)

Peregrine Capital Management LLC bought a new stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) during the 4th quarter, Holdings Channel reports. The firm bought 593,838 shares of the company’s stock, valued at approximately $5,897,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in shares of Krispy Kreme by 2.2% in the fourth quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock worth $1,182,000 after buying an additional 2,532 shares during the period. SG Americas Securities LLC increased its holdings in Krispy Kreme by 264.1% in the 4th quarter. SG Americas Securities LLC now owns 83,869 shares of the company’s stock worth $833,000 after acquiring an additional 60,833 shares in the last quarter. First Hawaiian Bank bought a new stake in Krispy Kreme during the 4th quarter worth approximately $111,000. Central Pacific Bank Trust Division purchased a new position in Krispy Kreme during the fourth quarter valued at approximately $71,000. Finally, Franklin Resources Inc. boosted its position in shares of Krispy Kreme by 30.7% in the third quarter. Franklin Resources Inc. now owns 14,467 shares of the company’s stock worth $158,000 after purchasing an additional 3,395 shares during the period. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

Krispy Kreme Stock Up 6.5 %

Shares of DNUT stock opened at $9.11 on Wednesday. The stock has a market cap of $1.55 billion, a P/E ratio of 53.59, a PEG ratio of 3.11 and a beta of 1.34. The company’s fifty day simple moving average is $9.23 and its two-hundred day simple moving average is $10.44. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. Krispy Kreme, Inc. has a 52 week low of $8.34 and a 52 week high of $17.84.

Krispy Kreme Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s payout ratio is presently 82.35%.

Analyst Ratings Changes

DNUT has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. 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 report on Tuesday, October 22nd. Finally, Morgan Stanley lowered their price objective on Krispy Kreme from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.25.

Krispy Kreme 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.