Krispy Kreme, Inc. (NASDAQ:DNUT) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 2,230,000 shares, a growth of 28.2% from the August 15th total of 1,740,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average trading volume of 2,610,000 shares, the short-interest ratio is currently 0.9 days.
In other Krispy Kreme news, CEO Michael J. Tattersfield bought 10,500 shares of the business’s stock in a transaction on Thursday, August 19th. The shares were purchased at an average price of $14.30 per share, with a total value of $150,150.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Olivier Goudet purchased 294,118 shares of the stock in a transaction dated Tuesday, July 6th. The shares were purchased at an average price of $16.02 per share, for a total transaction of $4,711,770.36. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,713,337 shares of company stock worth $123,268,014 in the last ninety days.
Several brokerages have recently issued reports on DNUT. Truist Securities lowered their price target on Krispy Kreme from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, August 18th. Morgan Stanley began coverage on Krispy Kreme in a research report on Monday, July 26th. They set an “overweight” rating and a $23.00 price target on the stock. CL King began coverage on Krispy Kreme in a report on Monday, July 26th. They issued a “buy” rating and a $16.71 target price on the stock. JPMorgan Chase & Co. began coverage on Krispy Kreme in a report on Monday, July 26th. They issued an “overweight” rating and a $19.00 target price on the stock. Finally, Wells Fargo & Company began coverage on Krispy Kreme in a report on Monday, July 26th. They issued an “equal weight” rating and a $18.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.39.
Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Monday, August 16th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $341.22 million during the quarter, compared to analyst estimates of $333.29 million. The company’s quarterly revenue was up 44.2% on a year-over-year basis. On average, sell-side analysts predict that Krispy Kreme will post 0.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 10th. Investors of record on Wednesday, October 27th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, October 26th. This represents a $0.14 dividend on an annualized basis and a yield of 0.99%.
Krispy Kreme Company Profile
Krispy Kreme, Inc, together with its subsidiaries, operates as a branded retailer and wholesaler of doughnuts, coffee and other complementary beverages, and treats and packaged sweets. The company operates through four segments: Company Stores, Domestic Franchise, International Franchise, and KK Supply Chain.
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