OFI Invest Asset Management Purchases Shares of 44,926 Krispy Kreme, Inc. (NASDAQ:DNUT)

OFI Invest Asset Management purchased a new stake in Krispy Kreme, Inc. (NASDAQ:DNUT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 44,926 shares of the company’s stock, valued at approximately $431,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Edgestream Partners L.P. increased its stake in Krispy Kreme by 158.9% in the 4th quarter. Edgestream Partners L.P. now owns 130,995 shares of the company’s stock valued at $1,301,000 after buying an additional 80,394 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Krispy Kreme by 20.8% in the 4th quarter. Bank of New York Mellon Corp now owns 546,792 shares of the company’s stock valued at $5,430,000 after buying an additional 94,000 shares during the last quarter. Handelsbanken Fonder AB increased its stake in Krispy Kreme by 4.4% in the 4th quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company’s stock valued at $306,000 after buying an additional 1,300 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Krispy Kreme during the 4th quarter worth about $5,897,000. Finally, Rhumbline Advisers increased its stake in shares of Krispy Kreme by 2.2% during the 4th quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock worth $1,182,000 after purchasing an additional 2,532 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DNUT shares. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $12.00 to $6.00 in a research note on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Truist Financial reaffirmed a “buy” rating and set a $12.00 target price (down previously from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Krispy Kreme has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Krispy Kreme Stock Performance

NASDAQ DNUT opened at $6.22 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $1.06 billion, a P/E ratio of 36.59, a P/E/G ratio of 3.24 and a beta of 1.40. Krispy Kreme, Inc. has a 12-month low of $5.77 and a 12-month high of $17.84. The firm has a 50-day moving average price of $8.54 and a two-hundred day moving average price of $10.14.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The business had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 EPS. Analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s payout ratio is presently 700.00%.

Krispy Kreme Company Profile

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.