Krispy Kreme (NASDAQ:DNUT) Sets New 1-Year Low – What’s Next?

Krispy Kreme, Inc. (NASDAQ:DNUT) reached a new 52-week low on Thursday . The company traded as low as $4.63 and last traded at $4.67, with a volume of 673206 shares trading hands. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DNUT. Morgan Stanley downgraded 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. Piper Sandler decreased their price target on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $12.00 price objective (down previously from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.29.

Krispy Kreme Stock Performance

The firm has a market capitalization of $751.02 million, a price-to-earnings ratio of 25.94, a PEG ratio of 3.24 and a beta of 1.40. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The stock’s 50-day moving average is $6.98 and its 200-day moving average is $9.32.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm 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 firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, analysts predict that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $0.035 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 3.17%. Krispy Kreme’s dividend payout ratio (DPR) is presently 700.00%.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors have recently added to or reduced their stakes in the business. Spartan Fund Management Inc. lifted its holdings in shares of Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after purchasing an additional 3,000 shares during the period. Point72 DIFC Ltd acquired a new position in Krispy Kreme during the 3rd quarter worth about $51,000. Central Pacific Bank Trust Division bought a new stake in shares of Krispy Kreme in the 4th quarter valued at about $71,000. First Hawaiian Bank acquired a new stake in shares of Krispy Kreme in the fourth quarter valued at about $111,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Krispy Kreme during the fourth quarter worth about $128,000. 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.