Krispy Kreme, Inc. (NASDAQ:DNUT) Announces Quarterly Dividend of $0.04

Krispy Kreme, Inc. (NASDAQ:DNUT) declared a quarterly dividend on Thursday, February 8th, Zacks reports. Shareholders of record on Wednesday, April 24th will be given a dividend of 0.035 per share on Wednesday, May 8th. This represents a $0.14 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Krispy Kreme has a payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Krispy Kreme to earn $0.30 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 46.7%.

Krispy Kreme Stock Performance

Shares of DNUT opened at $13.64 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $13.47 and its two-hundred day simple moving average is $13.46. Krispy Kreme has a 12 month low of $11.52 and a 12 month high of $17.84. The stock has a market capitalization of $2.30 billion, a P/E ratio of -62.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.47.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Tuesday, February 13th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $450.90 million for the quarter, compared to analyst estimates of $438.95 million. Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. As a group, analysts predict that Krispy Kreme will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective 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. Piper Sandler raised shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $20.00 in a research note on Friday, April 5th. Citigroup increased their price objective on shares of 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 target price on Krispy Kreme from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Capital One Financial started coverage on Krispy Kreme in a research note on Monday, January 22nd. They set an “equal weight” rating and a $16.00 price target on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.31.

Insider Buying and Selling

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

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Krispy Kreme by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,481,418 shares of the company’s stock worth $127,985,000 after purchasing an additional 58,222 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Krispy Kreme by 14.7% in the second quarter. BlackRock Inc. now owns 5,527,070 shares of the company’s stock valued at $81,414,000 after acquiring an additional 708,137 shares in the last quarter. State Street Corp grew its holdings in shares of Krispy Kreme by 6.2% in the second quarter. State Street Corp now owns 1,660,624 shares of the company’s stock valued at $24,461,000 after acquiring an additional 96,275 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Krispy Kreme by 13.1% during the second quarter. Geode Capital Management LLC now owns 1,657,881 shares of the company’s stock valued at $24,421,000 after acquiring an additional 192,399 shares during the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.

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.