Krispy Kreme, Inc. (NASDAQ:DNUT) Given Consensus Rating of “Hold” by Analysts

Krispy Kreme, Inc. (NASDAQ:DNUT) has received an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.31.

DNUT has been the topic of a number of recent research reports. Capital One Financial initiated coverage on Krispy Kreme in a research report on Monday, January 22nd. They set an “equal weight” rating and a $16.00 target price on the stock. Citigroup lifted their target price on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Bank of America raised their price target on shares of Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. cut 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 note on Tuesday, March 19th. Finally, Piper Sandler upgraded shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $14.00 to $20.00 in a research note on Friday, April 5th.

Insider Activity

In other news, Director Michael J. Tattersfield sold 100,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $12.82, for a total value of $1,282,000.00. Following the completion of the transaction, the director now owns 2,936,940 shares of the company’s stock, valued at approximately $37,651,570.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in shares of Krispy Kreme by 9.6% in the 3rd quarter. Amalgamated Bank now owns 10,248 shares of the company’s stock valued at $128,000 after purchasing an additional 895 shares during the period. Victory Capital Management Inc. acquired a new position in Krispy Kreme in the 4th quarter valued at about $157,000. Armistice Capital LLC acquired a new position in Krispy Kreme in the 4th quarter valued at about $170,000. Principal Financial Group Inc. acquired a new position in Krispy Kreme in the 3rd quarter valued at about $147,000. Finally, Connable Office Inc. grew its stake in Krispy Kreme by 25.6% in the 3rd quarter. Connable Office Inc. now owns 13,051 shares of the company’s stock valued at $163,000 after buying an additional 2,661 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Price Performance

Shares of NASDAQ:DNUT opened at $13.02 on Thursday. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 0.66. Krispy Kreme has a 1 year low of $11.52 and a 1 year high of $17.84. The business has a fifty day simple moving average of $13.47 and a 200 day simple moving average of $13.47. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -59.18, a P/E/G ratio of 2.65 and a beta of 1.47.

Krispy Kreme (NASDAQ:DNUT) last posted its 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 negative net margin of 2.25% and a positive return on equity of 2.02%. The company had revenue of $450.90 million for the quarter, compared to the consensus estimate of $438.95 million. During the same quarter last year, the business earned $0.11 earnings per share. Krispy Kreme’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts predict that Krispy Kreme will post 0.16 earnings per share 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 issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, April 23rd. Krispy Kreme’s dividend payout ratio (DPR) is -63.64%.

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.