Bank of America Raises Krispy Kreme (NASDAQ:DNUT) Price Target to $16.00

Krispy Kreme (NASDAQ:DNUT) had its price target upped by Bank of America from $15.00 to $16.00 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the stock. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a report on Tuesday, August 27th. Finally, HSBC raised Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.88.

Krispy Kreme Price Performance

NASDAQ:DNUT opened at $11.52 on Tuesday. The business’s 50-day simple moving average is $11.27 and its two-hundred day simple moving average is $11.42. Krispy Kreme has a 52 week low of $9.18 and a 52 week high of $17.84. The stock has a market cap of $1.94 billion, a PE ratio of -42.67, a P/E/G ratio of 3.15 and a beta of 1.41. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 0.73.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The company had revenue of $438.80 million for the quarter, compared to analysts’ expectations of $435.43 million. During the same period in the previous year, the firm earned $0.04 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, analysts forecast that Krispy Kreme will post 0.13 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The business 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. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio (DPR) is -51.85%.

Institutional Trading of Krispy Kreme

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Krispy Kreme by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,481,418 shares of the company’s stock valued at $127,985,000 after acquiring an additional 58,222 shares during the period. Capstone Investment Advisors LLC lifted its stake in Krispy Kreme by 226.1% in the first quarter. Capstone Investment Advisors LLC now owns 172,339 shares of the company’s stock worth $2,626,000 after purchasing an additional 119,486 shares during the last quarter. Carlyle Group Inc. purchased a new position in shares of Krispy Kreme during the first quarter valued at approximately $5,191,000. Quantbot Technologies LP grew its stake in shares of Krispy Kreme by 167.6% during the first quarter. Quantbot Technologies LP now owns 43,304 shares of the company’s stock valued at $660,000 after buying an additional 27,122 shares during the last quarter. Finally, Sciencast Management LP purchased a new stake in shares of Krispy Kreme in the first quarter worth approximately $223,000. 81.72% of the stock is currently owned by institutional investors.

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.