Krispy Kreme (NASDAQ:DNUT) Trading Down 6.1%

Krispy Kreme, Inc. (NASDAQ:DNUT) was down 6.1% during trading on Monday . The company traded as low as $10.08 and last traded at $10.10. Approximately 1,609,764 shares were traded during trading, a decline of 33% from the average daily volume of 2,391,915 shares. The stock had previously closed at $10.76.

Wall Street Analysts Forecast Growth

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

Krispy Kreme Stock Up 3.1 %

The business has a 50-day simple moving average of $11.61 and a two-hundred day simple moving average of $13.00. 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 stock has a market capitalization of $1.70 billion, a P/E ratio of -36.30, a PEG ratio of 2.00 and a beta of 1.41.

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

Krispy Kreme Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.14 annualized dividend and a yield of 1.39%. Krispy Kreme’s dividend payout ratio (DPR) is -51.85%.

Institutional Trading of Krispy Kreme

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC bought a new stake in shares of Krispy Kreme during the first quarter worth $154,000. California State Teachers Retirement System grew its position in shares of Krispy Kreme by 3.4% during 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 during the period. Bamco Inc. NY raised its stake 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 buying an additional 246,600 shares during the last quarter. Gabelli Funds LLC acquired a new position in Krispy Kreme in the first quarter valued at approximately $381,000. Finally, Vanguard Group Inc. boosted its stake in Krispy Kreme by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock valued at $130,237,000 after acquiring an additional 67,130 shares during the last quarter. 81.72% of the stock is owned by institutional investors.

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.