Krispy Kreme (NASDAQ:DNUT) Sees Large Volume Increase – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT) saw unusually-high trading volume on Wednesday . Approximately 5,277,924 shares traded hands during mid-day trading, an increase of 136% from the previous session’s volume of 2,236,323 shares.The stock last traded at $4.89 and had previously closed at $4.86.

Analysts Set New Price Targets

A number of equities analysts recently commented on DNUT shares. Truist Financial reiterated a “buy” rating and issued a $12.00 target price (down previously from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. Piper Sandler decreased their price objective on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley cut Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.29.

Krispy Kreme Stock Up 1.9 %

The company’s fifty day simple moving average is $7.23 and its 200 day simple moving average is $9.44. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $842.99 million, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $413.18 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. Research analysts expect that Krispy Kreme, Inc. will post 0.07 EPS for the current year.

Krispy Kreme Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is 700.00%.

Institutional Trading of Krispy Kreme

Hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in Krispy Kreme during the third quarter valued at $278,000. Edgestream Partners L.P. bought a new stake in Krispy Kreme during the 3rd quarter valued at about $543,000. Holocene Advisors LP purchased a new position in Krispy Kreme in the third quarter worth about $1,716,000. Point72 DIFC Ltd bought a new position in shares of Krispy Kreme in the third quarter worth approximately $51,000. Finally, Stifel Financial Corp grew its holdings in shares of Krispy Kreme by 2.5% during the third quarter. Stifel Financial Corp now owns 38,658 shares of the company’s stock valued at $415,000 after buying an additional 958 shares during the last quarter. 81.72% of the stock is 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.