Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have been given a consensus rating of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $11.57.

DNUT has been the subject of a number of research analyst reports. Piper Sandler lowered their target price on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley lowered Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $12.00 to $6.00 in a research note on Wednesday, February 26th. Finally, Truist Financial cut their price objective on shares of Krispy Kreme from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th.

Krispy Kreme Trading Up 2.1 %

NASDAQ DNUT opened at $4.31 on Monday. The company has a market cap of $733.99 million, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. Krispy Kreme has a twelve month low of $3.91 and a twelve month high of $13.25. The business’s fifty day moving average is $4.95 and its 200 day moving average is $8.24.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. During the same quarter in the prior year, the company earned $0.09 EPS. The company’s revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts expect that Krispy Kreme will post 0.07 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 3.25%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s payout ratio is 700.00%.

Insider Activity at Krispy Kreme

In related news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $4.32, for a total value of $3,000,002.40. Following the completion of the transaction, the insider now owns 74,190,990 shares of the company’s stock, valued at approximately $320,505,076.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Krispy Kreme

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Spartan Fund Management Inc. boosted its stake in Krispy Kreme by 150.0% in the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after buying an additional 3,000 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Krispy Kreme in the fourth quarter valued at about $71,000. GAMMA Investing LLC grew its position in Krispy Kreme by 1,440.9% in the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company’s stock worth $46,000 after purchasing an additional 8,732 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of Krispy Kreme during the 4th quarter worth about $111,000. Finally, Teacher Retirement System of Texas acquired a new stake in Krispy Kreme in the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 81.72% 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.