Krispy Kreme (NASDAQ:DNUT) Stock Price Up 5%

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price rose 5% on Friday . The stock traded as high as $10.77 and last traded at $10.77. Approximately 360,298 shares were traded during trading, a decline of 85% from the average daily volume of 2,365,154 shares. The stock had previously closed at $10.26.

Analyst Ratings Changes

DNUT has been the subject of several research analyst reports. Bank of America lifted their target price on Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. started coverage on Krispy Kreme in a research report on Monday, June 3rd. They set an “overweight” rating and a $14.00 target price for the company. Truist Financial upgraded Krispy Kreme from a “hold” rating to a “buy” rating and raised their price target for the company from $13.00 to $15.00 in a research note on Monday, June 10th. Citigroup raised their price target on Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Finally, Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and raised their price target for the company from $14.00 to $20.00 in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.69.

Krispy Kreme Price Performance

The firm has a 50 day simple moving average of $11.18 and a 200-day simple moving average of $12.75. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.84 billion, a PE ratio of -40.48, a price-to-earnings-growth ratio of 1.91 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. The business had revenue of $442.70 million for the quarter, compared to analyst estimates of $433.87 million. As a group, research analysts predict that Krispy Kreme, Inc. will post 0.16 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be paid a dividend of $0.035 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.28%. Krispy Kreme’s payout ratio is -51.85%.

Institutional Investors Weigh In On Krispy Kreme

A number of large investors have recently modified their holdings of DNUT. Hsbc Holdings PLC grew its stake in shares of Krispy Kreme by 157.1% during the fourth quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock worth $106,130,000 after acquiring an additional 4,263,574 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Krispy Kreme by 25.7% during the third quarter. Vanguard Group Inc. now owns 8,423,196 shares of the company’s stock worth $105,037,000 after purchasing an additional 1,721,287 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Krispy Kreme by 25.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company’s stock worth $34,971,000 after purchasing an additional 469,379 shares during the period. Carlyle Group Inc. acquired a new stake in shares of Krispy Kreme during the first quarter worth about $5,191,000. Finally, Bamco Inc. NY lifted its holdings in shares of Krispy Kreme by 2.6% during the first quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock worth $148,305,000 after purchasing an additional 246,600 shares during the period. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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.