Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $12.29.

A number of research analysts have recently commented on DNUT shares. Piper Sandler reduced their price target on shares of 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 lowered their price target for the company from $12.00 to $6.00 in a research report on Wednesday, February 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $12.00 price objective (down from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th.

Hedge Funds Weigh In On Krispy Kreme

Several hedge funds and other institutional investors have recently bought and sold shares of DNUT. Spartan Fund Management Inc. raised its holdings in shares of Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after purchasing an additional 3,000 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Krispy Kreme during the 4th quarter valued at $71,000. GAMMA Investing LLC lifted its holdings in shares of Krispy Kreme by 1,440.9% during the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company’s stock valued at $46,000 after buying an additional 8,732 shares during the period. First Hawaiian Bank purchased a new position in shares of Krispy Kreme in the 4th quarter worth $111,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Krispy Kreme in the fourth quarter worth $128,000. Institutional investors own 81.72% of the company’s stock.

Krispy Kreme Price Performance

Krispy Kreme stock opened at $4.28 on Thursday. The firm has a market capitalization of $728.88 million, a P/E ratio of 25.18, a PEG ratio of 3.24 and a beta of 1.47. Krispy Kreme has a one year low of $3.92 and a one year high of $14.85. 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 price of $6.21 and a 200-day moving average price of $8.89.

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

Krispy Kreme Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors 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 annualized dividend and a dividend yield of 3.27%. Krispy Kreme’s dividend payout ratio (DPR) is presently 700.00%.

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.