Krispy Kreme (NASDAQ:DNUT) Updates FY 2022 Earnings Guidance

Krispy Kreme (NASDAQ:DNUTGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.38-$0.41 for the period, compared to the consensus earnings per share estimate of $0.41. The company issued revenue guidance of $1.53 billion-$1.56 billion, compared to the consensus revenue estimate of $1.55 billion.

Krispy Kreme stock opened at $12.21 on Wednesday. Krispy Kreme has a 52-week low of $11.98 and a 52-week high of $21.69. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.23 and a current ratio of 0.30. The stock’s 50 day moving average price is $14.00 and its two-hundred day moving average price is $14.74.

Krispy Kreme (NASDAQ:DNUTGet Rating) last released its earnings results on Tuesday, February 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $370.60 million for the quarter, compared to analyst estimates of $363.04 million. Krispy Kreme had a negative net margin of 1.77% and a positive return on equity of 2.80%. The company’s revenue was up 13.8% on a year-over-year basis. Analysts anticipate that Krispy Kreme will post 0.28 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on DNUT shares. Morgan Stanley cut their price objective on shares of Krispy Kreme from $20.00 to $18.00 and set an overweight rating on the stock in a research report on Thursday, April 14th. Zacks Investment Research lowered Krispy Kreme from a hold rating to a sell rating in a report on Thursday, April 28th. Citigroup cut Krispy Kreme from a buy rating to a neutral rating and reduced their price objective for the company from $24.00 to $16.00 in a research note on Monday, April 11th. Finally, Bank of America started coverage on Krispy Kreme in a research report on Tuesday, January 11th. They set a buy rating and a $23.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $17.65.

In other news, CEO Michael J. Tattersfield bought 9,500 shares of Krispy Kreme stock in a transaction dated Thursday, March 10th. The stock was purchased at an average price of $13.95 per share, for a total transaction of $132,525.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Krispy Kreme by 30.6% in the 4th quarter. BlackRock Inc. now owns 1,638,129 shares of the company’s stock worth $30,995,000 after buying an additional 383,813 shares during the last quarter. Geode Capital Management LLC increased its position in Krispy Kreme by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 562,395 shares of the company’s stock worth $10,640,000 after buying an additional 35,871 shares during the last quarter. State Street Corp raised its stake in shares of Krispy Kreme by 59.7% in the fourth quarter. State Street Corp now owns 437,177 shares of the company’s stock valued at $8,271,000 after buying an additional 163,374 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Krispy Kreme by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 194,376 shares of the company’s stock valued at $3,678,000 after buying an additional 5,070 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Krispy Kreme by 540.5% during the 4th quarter. California State Teachers Retirement System now owns 76,019 shares of the company’s stock valued at $1,438,000 after buying an additional 64,150 shares during the last quarter. 68.82% of the stock is owned by institutional investors.

About Krispy Kreme (Get Rating)

Krispy Kreme, Inc, together with its subsidiaries, operates through an omni-channel business model to provide doughnut experiences and produce doughnuts. The company operates through three segments: U.S. and Canada, International, and Market Development. It also produces cookies, brownies, cookie cakes, ice cream, cookie-wiches, and cold milk, as well as doughnut mixes, other ingredients, and doughnut-making equipment.

Further Reading

Earnings History and Estimates for Krispy Kreme (NASDAQ:DNUT)

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