Buy the donuts, but pass on Krispy Kreme (KKD +0.8%), writes Dimitra Defotis in Barron's. After...

|About: Krispy Kreme Doughnuts, ... (KKD)|By:, SA News Editor

Buy the donuts, but pass on Krispy Kreme (KKD +0.8%), writes Dimitra Defotis in Barron's. After more than tripling in the past year, the stock trades at 32x earnings and this morning announced a $50M buyback plan (vs. $20B completed in 2012), but perhaps the cash might be better put to work growing the business as this multiple leaves little room for error.