Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Krispy Kreme, Inc. (NASDAQ:DNUT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 44.4% in the 4th quarter, Holdings Channel reports. The fund owned 21,317 shares of the company’s stock after acquiring an additional 6,553 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Krispy Kreme were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank raised its stake in shares of Krispy Kreme by 9.6% during the third quarter. Amalgamated Bank now owns 10,248 shares of the company’s stock worth $128,000 after purchasing an additional 895 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Krispy Kreme during the 3rd quarter worth $147,000. Connable Office Inc. boosted its holdings in shares of Krispy Kreme by 25.6% in the third quarter. Connable Office Inc. now owns 13,051 shares of the company’s stock valued at $163,000 after acquiring an additional 2,661 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Krispy Kreme during the third quarter worth about $182,000. Finally, Arizona State Retirement System raised its holdings in Krispy Kreme by 14.1% during the third quarter. Arizona State Retirement System now owns 21,551 shares of the company’s stock worth $269,000 after purchasing an additional 2,665 shares in the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Price Performance

DNUT stock opened at $12.66 on Friday. The stock’s 50 day moving average price is $13.42 and its 200 day moving average price is $13.50. The firm has a market cap of $2.14 billion, a P/E ratio of -57.55, a PEG ratio of 2.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.26 and a current ratio of 0.33. Krispy Kreme, Inc. has a 1 year low of $11.52 and a 1 year high of $17.84.

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

Krispy Kreme Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.035 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.11%. Krispy Kreme’s dividend payout ratio (DPR) is presently -63.64%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Michael J. Tattersfield sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $12.82, for a total transaction of $1,282,000.00. Following the sale, the director now owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.00% of the company’s stock.

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.