Krispy Kreme, Inc. (NASDAQ:DNUT) Sees Significant Growth in Short Interest

Krispy Kreme, Inc. (NASDAQ:DNUT) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 19,640,000 shares, a growth of 8.1% from the September 15th total of 18,160,000 shares. Based on an average trading volume of 1,570,000 shares, the days-to-cover ratio is currently 12.5 days. Approximately 23.8% of the company’s stock are sold short.

Institutional Trading of Krispy Kreme

Several institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. purchased a new stake in shares of Krispy Kreme in the second quarter valued at about $68,000. Tidal Investments LLC purchased a new stake in Krispy Kreme during the 1st quarter valued at approximately $154,000. nVerses Capital LLC purchased a new stake in Krispy Kreme during the 3rd quarter valued at approximately $124,000. Sciencast Management LP acquired a new stake in Krispy Kreme during the 1st quarter worth approximately $223,000. Finally, ProShare Advisors LLC grew its stake in shares of Krispy Kreme by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock valued at $240,000 after purchasing an additional 1,239 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Krispy Kreme Stock Performance

NASDAQ DNUT traded down $0.02 during trading hours on Thursday, hitting $11.47. The company had a trading volume of 667,429 shares, compared to its average volume of 2,090,108. The business has a 50 day moving average of $11.15 and a 200-day moving average of $11.56. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.26 and a current ratio of 0.34. Krispy Kreme has a 1-year low of $9.18 and a 1-year high of $17.84. The company has a market cap of $1.93 billion, a PE ratio of -42.48, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $438.80 million during the quarter, compared to analysts’ expectations of $435.43 million. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. As a group, equities research analysts expect that Krispy Kreme will post 0.13 EPS for the current year.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.22%. Krispy Kreme’s payout ratio is -51.85%.

Analyst Upgrades and Downgrades

DNUT has been the subject of several analyst reports. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Bank of America lowered their target price on shares of Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Evercore ISI restated an “in-line” rating and issued a $13.00 price target on shares of Krispy Kreme in a research note on Tuesday, August 27th. Finally, HSBC raised Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Krispy Kreme presently has an average rating of “Moderate Buy” and a consensus price target of $15.88.

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.