Krispy Kreme (NASDAQ:DNUT) Reaches New 12-Month Low – Time to Sell?

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $4.63 and last traded at $4.67, with a volume of 673206 shares trading hands. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

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

Krispy Kreme Trading Down 7.6 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The business has a fifty day moving average of $7.15 and a 200-day moving average of $9.41. The stock has a market capitalization of $779.12 million, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. During the same period in the prior year, the firm earned $0.09 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.06%. Krispy Kreme’s dividend payout ratio (DPR) is presently 700.00%.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Edgestream Partners L.P. increased its stake in Krispy Kreme by 158.9% in the 4th quarter. Edgestream Partners L.P. now owns 130,995 shares of the company’s stock worth $1,301,000 after purchasing an additional 80,394 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Krispy Kreme by 2.2% during the fourth quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock valued at $1,182,000 after acquiring an additional 2,532 shares during the period. Holocene Advisors LP purchased a new stake in shares of Krispy Kreme in the 3rd quarter valued at approximately $1,716,000. Barclays PLC boosted its stake in Krispy Kreme by 450.6% in the 3rd quarter. Barclays PLC now owns 169,209 shares of the company’s stock worth $1,816,000 after purchasing an additional 138,475 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Krispy Kreme by 20.8% during the 4th quarter. Bank of New York Mellon Corp now owns 546,792 shares of the company’s stock worth $5,430,000 after purchasing an additional 94,000 shares in 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.