Krispy Kreme (NASDAQ:DNUT) Shares Gap Up to $12.45

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) gapped up before the market opened on Tuesday . The stock had previously closed at $12.45, but opened at $14.84. Krispy Kreme shares last traded at $14.70, with a volume of 4,791,843 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DNUT. JPMorgan Chase & Co. dropped their price objective on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, March 19th. Capital One Financial initiated coverage on Krispy Kreme in a research note on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 price objective for the company. Finally, Citigroup lifted their price objective on Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.06.

Krispy Kreme Stock Down 11.5 %

The business has a 50 day simple moving average of $13.13 and a 200-day simple moving average of $13.25. 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 (NASDAQ:DNUT) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.09 earnings per share 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 business had revenue of $450.90 million during the quarter, compared to analysts’ expectations of $438.95 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts forecast that Krispy Kreme, Inc. will post 0.17 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently -63.64%.

Insider Activity at Krispy Kreme

In related news, Director Michael J. Tattersfield sold 100,000 shares of the stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors have recently bought and sold shares of the business. US Bancorp DE bought a new position in Krispy Kreme in the 1st quarter worth approximately $30,000. Tower Research Capital LLC TRC raised its holdings in Krispy Kreme by 100.3% in the first quarter. Tower Research Capital LLC TRC now owns 2,113 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the period. Lazard Asset Management LLC acquired a new position in Krispy Kreme in the 4th quarter worth $35,000. UBS Group AG grew its stake in Krispy Kreme by 28.3% in the second quarter. UBS Group AG now owns 3,672 shares of the company’s stock valued at $50,000 after purchasing an additional 810 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its holdings in Krispy Kreme by 178.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,330 shares of the company’s stock valued at $65,000 after purchasing an additional 2,777 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.

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.