Krispy Kreme (NASDAQ:DNUT) Stock Price Down 2.9%

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price dropped 2.9% during trading on Monday . The stock traded as low as $10.85 and last traded at $10.87. Approximately 106,346 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 2,357,185 shares. The stock had previously closed at $11.19.

Analyst Ratings Changes

DNUT has been the subject of several recent research reports. Truist Financial upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and boosted their price target for the company from $13.00 to $15.00 in a report on Monday, June 10th. Citigroup boosted their price target on shares of Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Bank of America cut their price objective on shares of Krispy Kreme from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. began coverage on shares of Krispy Kreme in a research report on Monday, June 3rd. They issued an “overweight” rating and a $14.00 price objective on the stock. Finally, Piper Sandler raised shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $20.00 in a research report on Friday, April 5th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $16.31.

Krispy Kreme Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 0.36. The stock’s 50 day simple moving average is $11.01 and its 200-day simple moving average is $12.59.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting 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%. Research analysts forecast that Krispy Kreme, Inc. will post 0.16 EPS for the current year.

Krispy Kreme Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be paid a $0.035 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.30%. Krispy Kreme’s payout ratio is currently -51.85%.

Institutional Trading of Krispy Kreme

A number of hedge funds have recently added to or reduced their stakes in DNUT. Natixis Advisors L.P. lifted its holdings in Krispy Kreme by 4.9% during the fourth quarter. Natixis Advisors L.P. now owns 25,248 shares of the company’s stock valued at $380,000 after purchasing an additional 1,181 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Krispy Kreme by 8.5% in the first quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock worth $240,000 after buying an additional 1,239 shares in the last quarter. Connable Office Inc. lifted its stake in shares of Krispy Kreme by 15.8% in the fourth quarter. Connable Office Inc. now owns 15,109 shares of the company’s stock worth $228,000 after buying an additional 2,058 shares in the last quarter. Truist Financial Corp increased its position in Krispy Kreme by 3.0% during the fourth quarter. Truist Financial Corp now owns 92,719 shares of the company’s stock worth $1,399,000 after purchasing an additional 2,701 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Krispy Kreme by 3.4% during the first quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock worth $1,289,000 after purchasing an additional 2,769 shares during the last quarter. 81.72% of the stock is owned by hedge funds and other 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.