UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)
KRISPY KREME DOUGHNUTS INC
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
501014104
(CUSIP Number)
December 31, 2015
(Date of Event which Requires Filing of Statement)
Check the appropriate box to designate the Rule pursuant to which
this Schedule is filed:
[x] Rule 13d - 1(b)
Rule 13d - 1(c)
Rule 13d - 1(d)
1 Name of Reporting Person
T. ROWE PRICE ASSOCIATES, INC.
52-0556948
2 Check the Appropriate Box if a Member of a Group
NOT APPLICABLE
______________________________
| 4 | Citizenship or Place of Organization |
MARYLAND
Number of Shares Beneficially Owned by Each Reporting Person With
5 Sole Voting Power* 1,903,154
6 Shared Voting Power* -0-
7 Sole Dispositive Power* 10,141,204
8 Shared Dispositive Power -0-
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person |
10,141,204
| 10 | Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares |
NOT APPLICABLE
11 Percent of Class Represented by Amount in Row 9
16.0%
12 Type of Reporting Person
IA
*Any shares reported in Items 5 and 6 are also reported in Item
7.
1 Name of Reporting Person
T. ROWE PRICE NEW HORIZONS FUND, INC.
52-0791372
2 Check the Appropriate Box if a Member of a Group
NOT APPLICABLE
______________________________
| 4 | Citizenship or Place of Organization |
Maryland
Number of Shares Beneficially Owned by Each Reporting Person With
5 Sole Voting Power* 5,221,150
6 Shared Voting Power* -0-
7 Sole Dispositive Power* -0-
8 Shared Dispositive Power -0-
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person |
5,221,150
| 10 | Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares |
NOT APPLICABLE
11 Percent of Class Represented by Amount in Row 9
8.2%
12 Type of Reporting Person
IV
*The aggregate amount reported on this page is also included in
the aggregate amount reported by T. Rowe Price Associates, Inc. on this Schedule 13G.
Item 1(a) Name of Issuer:
Reference is made to page 1 of this Schedule
13G
Item 1(b) Address of Issuer's Principal Executive Offices:
370 Knollwood Street, Suite 500, Winston-Salem,
North Carolina 27103-1865
Item 2(a) Name of Person(s) Filing:
(1) T. Rowe Price Associates, Inc. ("Price
Associates")
(2) T. Rowe Price New Horizons Fund, Inc.
X Attached as Exhibit A is
a copy of an agreement between the Persons Filing (as specified hereinabove) that this Schedule 13G is being filed on behalf of
each of them.
Item 2(b) Address of Principal Business Office:
100 E. Pratt Street, Baltimore, Maryland
21202
Item 2(c) Citizenship or Place of Organization:
(1) Maryland
(2) Maryland
Item 2(d) Title of Class of Securities:
Reference is made to page 1 of this Schedule
13G
Item 2(e) CUSIP Number: 501014104
Item 3 The person filing this Schedule 13G is an:
| X | Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940 |
| X | Investment Company registered under Section 8 of the Investment Company Act of 1940 |
Item 4 Reference is made
to Items 5-11 on the preceding pages of this Schedule 13G.
Item 5 Ownership of Five Percent or Less of a Class.
X Not Applicable.
This statement is being filed to report the fact that,
as of the date of this report, the reporting person(s) has (have) ceased to be the beneficial owner of more than five percent of
the class of securities.
Item 6 Ownership of More than Five Percent on Behalf of Another
Person
| (1) | Price Associates does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client
or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of,
such securities. |
| | The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities,
is vested in the individual and institutional clients which Price Associates serves as investment adviser. Any and all discretionary
authority which has been delegated to Price Associates may be revoked in whole or in part at any time |
| | Except as may be indicated if this is a joint filing with one of the registered investment companies sponsored by Price Associates
which it also serves as investment adviser ("T. Rowe Price Funds"), not more than 5% of the class of such securities
is owned by any one client subject to the investment advice of Price Associates. |
| (2) | With respect to securities owned by any one of the T. Rowe Price Funds, only the custodian for each of such Funds, has the
right to receive dividends paid with respect to, and proceeds from the sale of, such securities. No other person is known to have
such right, except that the shareholders of each such Fund participate proportionately in any dividends and distributions so paid. |
Item 7 Identification and
Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.
Not Applicable.
Item 8 Identification and
Classification of Members of the Group.
Not Applicable.
Item 9 Notice of Dissolution of Group.
Not Applicable.
Item 10 Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired and
are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. T. Rowe
Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that
Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.
Signature.
After reasonable inquiry and to the best of my knowledge
and belief, I certify that the information set forth in this statement is true, complete and correct.
T. ROWE PRICE ASSOCIATES, INC.
Date: February 16, 2016
Signature: /s/ David Oestreicher
Name & Title: David Oestreicher, Vice President
T. ROWE PRICE NEW HORIZONS
FUND, INC.
Date: February 16, 2016
Signature: /s/ David Oestreicher
Name & Title: David Oestreicher, Vice President
12/31/2015
EXHIBIT A
AGREEMENT
JOINT FILING OF SCHEDULE 13G
Price Associates, Inc. (an investment adviser
registered under the Investment Advisers Act of 1940), and T. Rowe Price New Horizons Fund, Inc., all of which are Maryland corporations,
hereby agree to file jointly the statement on Schedule 13G to which this Agreement is attached, and any amendments thereto which
may be deemed necessary, pursuant to Regulation 13D-G under the Securities Exchange Act of 1934.
It is understood and agreed that each of
the parties hereto is responsible for the timely filing of such statement and any amendments thereto, and for the completeness
and accuracy of the information concerning such party contained therein, but such party is not responsible for the completeness
or accuracy of information concerning the other party unless such party knows or has reason to believe that such information is
inaccurate.
It is understood and agreed that a copy
of this Agreement shall be attached as an exhibit to the statement on Schedule 13G, and any amendments hereto, filed on behalf
of each of the parties hereto.
T. ROWE PRICE ASSOCIATES, INC.
Date: February 16, 2016
Signature: /s/ David Oestreicher
Name & Title: David Oestreicher, Vice President
T. ROWE PRICE NEW HORIZONS
FUND, INC.
Date: February 16, 2016
Signature: /s/ David Oestreicher
Name & Title: David Oestreicher, Vice President
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