Krispy Kreme, Inc. (NASDAQ:DNUT) Declares Quarterly Dividend of $0.04

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Thursday, February 8th, Zacks reports. Stockholders of record on Wednesday, April 24th will be given a dividend of 0.035 per share on Wednesday, May 8th. This represents a $0.14 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Tuesday, April 23rd.

Krispy Kreme has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Krispy Kreme to earn $0.30 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 46.7%.

Krispy Kreme Stock Down 0.3 %

DNUT opened at $13.64 on Monday. Krispy Kreme has a 1-year low of $11.52 and a 1-year high of $17.84. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -62.00, a P/E/G ratio of 2.70 and a beta of 1.46. The business has a 50 day moving average of $13.47 and a 200-day moving average of $13.46.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The business had revenue of $450.90 million during the quarter, compared to the consensus estimate of $438.95 million. During the same period in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Krispy Kreme will post 0.16 earnings per share for the current year.

Insider Activity at Krispy Kreme

In related news, Director Michael J. Tattersfield sold 100,000 shares of Krispy Kreme stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $12.82, for a total value of $1,282,000.00. Following the completion of the sale, the director now directly owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is owned by company insiders.

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Krispy Kreme by 74.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 339,116 shares of the company’s stock worth $5,036,000 after purchasing an additional 144,740 shares during the period. American International Group Inc. boosted its holdings in Krispy Kreme by 254.2% during the first quarter. American International Group Inc. now owns 42,267 shares of the company’s stock worth $628,000 after buying an additional 30,333 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Krispy Kreme by 91.7% during the first quarter. Vanguard Group Inc. now owns 5,674,509 shares of the company’s stock worth $84,267,000 after buying an additional 2,714,348 shares during the last quarter. BlackRock Inc. boosted its holdings in Krispy Kreme by 177.4% during the first quarter. BlackRock Inc. now owns 4,543,907 shares of the company’s stock worth $67,477,000 after buying an additional 2,905,778 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Krispy Kreme by 368.7% during the first quarter. Rhumbline Advisers now owns 84,698 shares of the company’s stock worth $1,258,000 after buying an additional 66,629 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DNUT shares. Bank of America raised their target price on Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Piper Sandler raised Krispy Kreme from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $14.00 to $20.00 in a research report on Friday, April 5th. Capital One Financial started coverage on Krispy Kreme in a research report on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 target price for the company. Citigroup raised their target price on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. reduced their target price on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Krispy Kreme has a consensus rating of “Hold” and a consensus price target of $16.31.

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.