Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have received an average recommendation of “Hold” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $16.31.

Several analysts recently commented on the company. Capital One Financial assumed coverage on Krispy Kreme in a report on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 target price on the stock. Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $14.00 to $20.00 in a report on Friday, April 5th. Bank of America increased their price target on Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. cut their price target on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 19th. Finally, Citigroup increased their price target on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $13.01 on Thursday. The stock has a market cap of $2.20 billion, a P/E ratio of -59.14, a price-to-earnings-growth ratio of 2.54 and a beta of 1.46. 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 stock’s 50-day moving average is $13.48 and its 200-day moving average is $13.50. Krispy Kreme has a 1-year low of $11.52 and a 1-year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last released 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). The firm had revenue of $450.90 million for the quarter, compared to the consensus estimate of $438.95 million. Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. Equities research analysts anticipate that Krispy Kreme will post 0.16 earnings per share for the current year.

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently -63.64%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Krispy Kreme

Several large investors have recently bought and sold shares of the stock. Amalgamated Bank lifted its stake in Krispy Kreme by 9.6% during the 3rd quarter. Amalgamated Bank now owns 10,248 shares of the company’s stock valued at $128,000 after acquiring an additional 895 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Krispy Kreme by 4.9% during the 4th quarter. Natixis Advisors L.P. now owns 25,248 shares of the company’s stock worth $380,000 after purchasing an additional 1,181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Krispy Kreme by 15.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,764 shares of the company’s stock worth $184,000 after purchasing an additional 2,017 shares during the period. Connable Office Inc. raised its stake in shares of Krispy Kreme by 15.8% during the 4th quarter. Connable Office Inc. now owns 15,109 shares of the company’s stock worth $228,000 after purchasing an additional 2,058 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Krispy Kreme by 14.1% during the 3rd quarter. Arizona State Retirement System now owns 21,551 shares of the company’s stock worth $269,000 after purchasing an additional 2,665 shares during the period. 81.72% of the stock is currently owned by 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.