Krispy Kreme, Inc. (NASDAQ:DNUT) Receives $16.31 Average Price Target from Brokerages

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have earned an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $16.31.

DNUT has been the topic of several research reports. Piper Sandler raised Krispy Kreme from a “neutral” rating to an “overweight” rating and upped their target price for the company from $14.00 to $20.00 in a research report on Friday, April 5th. Bank of America increased their price objective on Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Capital One Financial began coverage on shares of Krispy Kreme in a research report on Monday, January 22nd. They set an “equal weight” rating and a $16.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th.

Krispy Kreme Trading Down 1.3 %

Shares of Krispy Kreme stock opened at $12.49 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26. The business has a fifty day simple moving average of $13.47 and a two-hundred day simple moving average of $13.51. Krispy Kreme has a 1 year low of $11.52 and a 1 year high of $17.84. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -56.77, a P/E/G ratio of 2.54 and a beta of 1.47.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data 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 company 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%. Krispy Kreme’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. Research analysts forecast that Krispy Kreme will post 0.16 EPS for the current year.

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.12%. The ex-dividend date is Tuesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently -63.64%.

Insider Transactions at Krispy Kreme

In related news, Director Michael J. Tattersfield sold 100,000 shares of Krispy Kreme stock in a transaction that occurred 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 transaction, the director now directly owns 2,936,940 shares of the company’s stock, valued at $37,651,570.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Krispy Kreme

Several large investors have recently bought and sold shares of DNUT. Hsbc Holdings PLC lifted its holdings in shares of Krispy Kreme by 157.1% in the fourth quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock worth $106,130,000 after acquiring an additional 4,263,574 shares during the last quarter. Bamco Inc. NY lifted its stake in Krispy Kreme by 59.5% in the 3rd quarter. Bamco Inc. NY now owns 9,221,657 shares of the company’s stock valued at $114,994,000 after purchasing an additional 3,439,948 shares during the last quarter. Vanguard Group Inc. lifted its stake in Krispy Kreme by 25.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,423,196 shares of the company’s stock valued at $105,037,000 after purchasing an additional 1,721,287 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Krispy Kreme by 25.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company’s stock valued at $34,971,000 after buying an additional 469,379 shares in the last quarter. Finally, Cooper Creek Partners Management LLC grew its stake in shares of Krispy Kreme by 16.6% during the third quarter. Cooper Creek Partners Management LLC now owns 1,459,714 shares of the company’s stock worth $18,203,000 after buying an additional 207,314 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

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.