Krispy Kreme (NASDAQ:DNUT) Downgraded to Neutral Rating by BNP Paribas Exane

BNP Paribas Exane downgraded shares of Krispy Kreme (NASDAQ:DNUT) from an outperform rating to a neutral rating in a research note issued to investors on Monday, MarketBeat reports. BNP Paribas Exane currently has $3.50 target price on the stock.

A number of other analysts have also recently commented on DNUT. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Krispy Kreme in a research report on Wednesday, May 14th. Citigroup cut their target price on Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating for the company in a research report on Friday, May 9th. Truist Financial lowered Krispy Kreme from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley dropped their price target on Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating for the company in a research note on Monday, July 14th. Finally, Bank of America reduced their target price on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.29.

Krispy Kreme Trading Up 4.2%

NASDAQ:DNUT opened at $3.26 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.35 and a quick ratio of 0.28. The business’s 50-day moving average is $2.98 and its two-hundred day moving average is $5.28. Krispy Kreme has a 12 month low of $2.50 and a 12 month high of $12.68. The firm has a market capitalization of $556.35 million, a PE ratio of -25.08 and a beta of 1.29.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). Krispy Kreme had a negative net margin of 1.36% and a negative return on equity of 2.13%. The company had revenue of $375.18 million for the quarter, compared to analyst estimates of $383.97 million. During the same period in the previous year, the business earned $0.07 EPS. Krispy Kreme’s revenue for the quarter was down 15.2% compared to the same quarter last year. Research analysts predict that Krispy Kreme will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Krispy Kreme

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the company’s stock in a transaction on 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 sale, the insider owned 74,190,990 shares in the company, valued at $320,505,076.80. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DNUT. Pacific Point Advisors LLC purchased a new position in Krispy Kreme in the second quarter valued at about $341,000. Counterpoint Mutual Funds LLC bought a new position in Krispy Kreme during the second quarter worth about $333,000. AFG Fiduciary Services Limited Partnership acquired a new stake in Krispy Kreme during the 2nd quarter worth $81,000. First Hawaiian Bank raised its holdings in shares of Krispy Kreme by 348.0% in the 1st quarter. First Hawaiian Bank now owns 49,850 shares of the company’s stock valued at $245,000 after purchasing an additional 38,722 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Krispy Kreme by 3.2% in the first quarter. Rhumbline Advisers now owns 122,856 shares of the company’s stock valued at $604,000 after buying an additional 3,773 shares in the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

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.