Paloma Partners Management Co Acquires 33,486 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

Paloma Partners Management Co boosted its holdings in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 905,554 shares of the company’s stock after acquiring an additional 33,486 shares during the period. Paloma Partners Management Co’s holdings in Krispy Kreme were worth $8,992,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DNUT. Spartan Fund Management Inc. increased its position in shares of Krispy Kreme by 150.0% in the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,000 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Krispy Kreme during the fourth quarter worth approximately $71,000. First Hawaiian Bank acquired a new position in Krispy Kreme during the fourth quarter worth approximately $111,000. Franklin Resources Inc. boosted its holdings in shares of Krispy Kreme by 30.7% during the third quarter. Franklin Resources Inc. now owns 14,467 shares of the company’s stock worth $158,000 after acquiring an additional 3,395 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Krispy Kreme in the fourth quarter valued at approximately $193,000. 81.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DNUT has been the topic of a number of research reports. Truist Financial decreased their price objective on Krispy Kreme from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Morgan Stanley cut Krispy Kreme from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.57.

Insiders Place Their Bets

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $4.32, for a total value of $3,000,002.40. Following the sale, the insider now owns 74,190,990 shares of the company’s stock, valued at $320,505,076.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.30% of the company’s stock.

Krispy Kreme Stock Performance

NASDAQ DNUT opened at $4.19 on Tuesday. The company has a market cap of $713.56 million, a P/E ratio of 24.65, a PEG ratio of 3.24 and a beta of 1.47. The company has a fifty day simple moving average of $5.31 and a 200 day simple moving average of $8.44. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. Krispy Kreme, Inc. has a 12-month low of $3.91 and a 12-month high of $13.25.

Krispy Kreme (NASDAQ:DNUT) last issued 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). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The business 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 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. Sell-side analysts predict that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is 700.00%.

Krispy Kreme 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.