Hsbc Holdings PLC Sells 41,756 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

Hsbc Holdings PLC reduced its position in Krispy Kreme, Inc. (NASDAQ:DNUT) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,072,360 shares of the company’s stock after selling 41,756 shares during the period. Hsbc Holdings PLC owned 4.19% of Krispy Kreme worth $74,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DNUT. ProShare Advisors LLC raised its holdings in shares of Krispy Kreme by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock worth $240,000 after acquiring an additional 1,239 shares in the last quarter. Connable Office Inc. lifted its position in Krispy Kreme by 15.8% during the fourth quarter. Connable Office Inc. now owns 15,109 shares of the company’s stock valued at $228,000 after purchasing an additional 2,058 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Krispy Kreme by 3.4% in the 1st quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock worth $1,289,000 after buying an additional 2,769 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Krispy Kreme in the 2nd quarter worth about $68,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Krispy Kreme by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 665,957 shares of the company’s stock valued at $10,049,000 after buying an additional 7,745 shares in the last quarter. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Price Performance

DNUT opened at $12.22 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $10.93 and a 200 day moving average of $11.83. Krispy Kreme, Inc. has a 52-week low of $9.18 and a 52-week high of $17.84. The stock has a market cap of $2.06 billion, a P/E ratio of -45.26, a PEG ratio of 3.42 and a beta of 1.41.

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 negative net margin of 2.98% and a positive return on equity of 1.12%. The firm had revenue of $438.80 million for the quarter, compared to analysts’ expectations of $435.43 million. During the same period in the prior year, the business posted $0.04 earnings per share. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Krispy Kreme, Inc. will post 0.13 EPS for the current year.

Krispy Kreme Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is presently -51.85%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DNUT shares. Bank of America dropped their price target on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Evercore ISI reissued an “in-line” rating and set a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. Truist Financial upgraded Krispy Kreme from a “hold” rating to a “buy” rating and raised their price target for the stock from $13.00 to $15.00 in a research report on Monday, June 10th. Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.88.

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.