Krispy Kreme (NASDAQ:DNUT) Shares Down 3.2% – What’s Next?

Krispy Kreme, Inc. (NASDAQ:DNUT)’s share price was down 3.2% during mid-day trading on Wednesday . The company traded as low as $5.59 and last traded at $5.54. Approximately 107,329 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 2,410,910 shares. The stock had previously closed at $5.72.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DNUT shares. Piper Sandler reduced their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Truist Financial restated a “buy” rating and issued a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. Finally, Morgan Stanley downgraded shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Krispy Kreme presently has an average rating of “Moderate Buy” and a consensus price target of $13.13.

Krispy Kreme Stock Down 2.7 %

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 firm has a market cap of $947.72 million, a price-to-earnings ratio of 32.62, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40. The stock’s 50 day moving average is $7.95 and its 200 day moving average is $9.88.

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

Krispy Kreme Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s payout ratio is 700.00%.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently bought and sold shares of DNUT. Edgestream Partners L.P. lifted its stake in Krispy Kreme by 158.9% during the fourth 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 in the last quarter. Landscape Capital Management L.L.C. lifted its stake in Krispy Kreme by 86.1% during the third quarter. Landscape Capital Management L.L.C. now owns 216,559 shares of the company’s stock valued at $2,326,000 after buying an additional 100,163 shares in the last quarter. Paloma Partners Management Co lifted its stake in Krispy Kreme by 6,993.4% during the third quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock valued at $9,366,000 after buying an additional 859,774 shares in the last quarter. Rhumbline Advisers lifted its stake in Krispy Kreme by 2.2% during the fourth quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock valued at $1,182,000 after buying an additional 2,532 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Krispy Kreme during the third quarter valued at about $810,000. 81.72% of the stock is owned by institutional investors and hedge funds.

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.