Brevan Howard Capital Management LP Invests $582,000 in Krispy Kreme, Inc. (NASDAQ:DNUT)

Brevan Howard Capital Management LP purchased a new position in Krispy Kreme, Inc. (NASDAQ:DNUT) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 58,611 shares of the company’s stock, valued at approximately $582,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Edgestream Partners L.P. lifted its holdings in shares of Krispy Kreme by 158.9% during the 4th quarter. Edgestream Partners L.P. now owns 130,995 shares of the company’s stock worth $1,301,000 after acquiring an additional 80,394 shares during the period. Sei Investments Co. raised its stake in Krispy Kreme by 491.7% during the fourth quarter. Sei Investments Co. now owns 121,297 shares of the company’s stock worth $1,204,000 after purchasing an additional 100,796 shares during the period. Bamco Inc. NY boosted its holdings in shares of Krispy Kreme by 24.7% in the 4th quarter. Bamco Inc. NY now owns 13,069,717 shares of the company’s stock valued at $129,782,000 after purchasing an additional 2,588,398 shares during the last quarter. Rhumbline Advisers grew 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 valued at $1,182,000 after buying an additional 2,532 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Krispy Kreme by 100.9% in the 4th quarter. Wells Fargo & Company MN now owns 229,352 shares of the company’s stock worth $2,277,000 after buying an additional 115,177 shares during the period. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Price Performance

Shares of NASDAQ DNUT opened at $2.73 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. Krispy Kreme, Inc. has a fifty-two week low of $2.58 and a fifty-two week high of $13.25. The business has a 50 day moving average price of $4.72 and a two-hundred day moving average price of $8.02. The firm has a market cap of $465.90 million, a PE ratio of 16.06, a price-to-earnings-growth ratio of 3.24 and a beta of 1.49.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $375.18 million for the quarter, compared to analysts’ expectations of $383.97 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. Sell-side analysts expect that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $0.035 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 5.13%. Krispy Kreme’s dividend payout ratio (DPR) is 700.00%.

Insider Activity at Krispy Kreme

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 74,190,990 shares in the company, valued at approximately $320,505,076.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analysts Forecast Growth

DNUT has been the subject of several research analyst reports. Truist Financial lowered Krispy Kreme from a “buy” rating to a “hold” rating in a research note on Thursday. 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. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. Finally, Citigroup reduced their target price on shares of Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.58.

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.