Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Average Rating of “Hold” from Analysts

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $16.31.

DNUT has been the topic of several research reports. Capital One Financial initiated coverage on shares of Krispy Kreme in a research report on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 price target on the stock. Bank of America boosted their price target on shares of Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Citigroup boosted their price target on shares of Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Piper Sandler upgraded shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $14.00 to $20.00 in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 19th.

Insider Buying and Selling at Krispy Kreme

In other news, Director Michael J. Tattersfield sold 100,000 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $12.82, for a total value of $1,282,000.00. Following the transaction, the director now directly owns 2,936,940 shares in the company, valued at $37,651,570.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Krispy Kreme

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Benin Management CORP purchased a new position in shares of Krispy Kreme in the 1st quarter valued at approximately $292,000. Vanguard Group Inc. raised its position in shares of Krispy Kreme by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,481,418 shares of the company’s stock valued at $127,985,000 after purchasing an additional 58,222 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Krispy Kreme by 66.9% in the 4th quarter. 1832 Asset Management L.P. now owns 26,700 shares of the company’s stock valued at $403,000 after purchasing an additional 10,700 shares during the last quarter. Armistice Capital LLC purchased a new position in shares of Krispy Kreme in the 4th quarter valued at approximately $170,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Krispy Kreme in the 4th quarter valued at approximately $537,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

Krispy Kreme Price Performance

Shares of NASDAQ:DNUT opened at $13.02 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26. Krispy Kreme has a 1-year low of $11.52 and a 1-year high of $17.84. The company has a market capitalization of $2.20 billion, a P/E ratio of -59.18, a P/E/G ratio of 2.65 and a beta of 1.47. The firm’s 50 day simple moving average is $13.47 and its two-hundred day simple moving average is $13.47.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Tuesday, February 13th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. The company had revenue of $450.90 million during the quarter, compared to analysts’ expectations of $438.95 million. During the same period last year, the firm posted $0.11 EPS. Krispy Kreme’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, April 23rd. Krispy Kreme’s dividend payout ratio (DPR) is -63.64%.

About Krispy Kreme

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.