Krispy Kreme (NASDAQ:DNUT) Trading Down 6.1%

Krispy Kreme, Inc. (NASDAQ:DNUT) shares were down 6.1% on Monday . The company traded as low as $10.08 and last traded at $10.10. Approximately 1,609,764 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 2,391,915 shares. The stock had previously closed at $10.76.

Analyst Upgrades and Downgrades

DNUT has been the subject of a number of analyst reports. Citigroup increased their target price on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. began coverage on Krispy Kreme in a report on Monday, June 3rd. They issued an “overweight” rating and a $14.00 target price for the company. Truist Financial raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a research note on Monday, June 10th. Bank of America boosted their price objective on shares of Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Piper Sandler raised shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and increased their target price for the company from $14.00 to $20.00 in a report on Friday, April 5th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Krispy Kreme has a consensus rating of “Moderate Buy” and an average target price of $16.69.

Krispy Kreme Stock Performance

The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $11.74 and a 200 day simple moving average of $13.06.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. The business had revenue of $442.70 million for the quarter, compared to analyst estimates of $433.87 million. As a group, equities research analysts forecast that Krispy Kreme, Inc. will post 0.16 earnings per share for the current year.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Wednesday, July 24th. Krispy Kreme’s dividend payout ratio is presently -51.85%.

Institutional Trading of Krispy Kreme

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of Krispy Kreme during the first quarter worth $154,000. Victory Capital Management Inc. acquired a new stake in Krispy Kreme in the 4th quarter worth about $157,000. Armistice Capital LLC purchased a new stake in Krispy Kreme in the 4th quarter valued at about $170,000. Sciencast Management LP acquired a new position in shares of Krispy Kreme during the 1st quarter valued at about $223,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Krispy Kreme in the fourth quarter worth approximately $225,000. Institutional investors and hedge funds own 81.72% of the company’s stock.

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.