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

Krispy Kreme, Inc. (NASDAQ:DNUT) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Wednesday, July 24th will be paid a dividend of 0.035 per share on Wednesday, August 7th. This represents a $0.14 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, July 24th.

Krispy Kreme has a payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. 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

DNUT traded up $0.13 during trading on Thursday, hitting $12.62. The company’s stock had a trading volume of 280,358 shares, compared to its average volume of 2,328,624. The firm’s 50 day moving average price is $13.47 and its two-hundred day moving average price is $13.51. 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 12 month low of $11.52 and a 12 month high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $450.90 million during the quarter, compared to the consensus estimate of $438.95 million. Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. Sell-side analysts predict that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their target price on Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Citigroup boosted 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. 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 for the company. Piper Sandler raised 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 note on Friday, April 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Krispy Kreme has a consensus rating of “Hold” and a consensus price target of $16.31.

Insider Buying and Selling at Krispy Kreme

In other Krispy Kreme news, Director Michael J. Tattersfield sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 2,936,940 shares of the company’s stock, valued at $37,651,570.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.00% of the company’s stock.

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.