Brokerages Set Krispy Kreme, Inc. (NASDAQ:DNUT) Price Target at $16.31

Krispy Kreme, Inc. (NASDAQ:DNUT) has been given an average rating of “Hold” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $16.31.

DNUT has been the topic of several research reports. Citigroup upped their price objective on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $20.00 in a research report on Friday, April 5th. 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. Finally, Bank of America raised their target price on shares of Krispy Kreme from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, April 8th.

Insider Activity at Krispy Kreme

In related 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 sale, the director now directly owns 2,936,940 shares of the company’s stock, valued at approximately $37,651,570.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Krispy Kreme

A number of large investors have recently modified their holdings of DNUT. Tidal Investments LLC acquired a new position in shares of Krispy Kreme during the 1st quarter worth about $154,000. California State Teachers Retirement System lifted its position in shares of Krispy Kreme by 3.4% in the first quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock valued at $1,289,000 after buying an additional 2,769 shares during the last quarter. Bamco Inc. NY raised its stake in Krispy Kreme by 2.6% in the 1st quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock valued at $148,305,000 after acquiring an additional 246,600 shares during the period. Gabelli Funds LLC acquired a new stake in Krispy Kreme during the 1st quarter valued at $381,000. Finally, Vanguard Group Inc. boosted its position in Krispy Kreme by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock worth $130,237,000 after purchasing an additional 67,130 shares during the period. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Krispy Kreme Price Performance

Shares of DNUT stock opened at $11.15 on Monday. Krispy Kreme has a one year low of $11.13 and a one year high of $17.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. The stock’s fifty day simple moving average is $13.29 and its 200 day simple moving average is $13.42. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -41.30, a P/E/G ratio of 2.15 and a beta of 1.52.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Krispy Kreme had a negative net margin of 2.70% and a positive return on equity of 1.40%. The firm had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $433.87 million. On average, analysts expect that Krispy Kreme will post 0.16 earnings per share for the current fiscal year.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, July 24th. Krispy Kreme’s dividend payout ratio is currently -51.85%.

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.