Los Angeles Capital Management LLC Purchases New Stake in Krispy Kreme, Inc. $DNUT

Los Angeles Capital Management LLC acquired a new position in Krispy Kreme, Inc. (NASDAQ:DNUT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 27,559 shares of the company’s stock, valued at approximately $80,000.

Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can acquired a new position in shares of Krispy Kreme in the 2nd quarter valued at about $38,000. R Squared Ltd purchased a new stake in Krispy Kreme in the 2nd quarter worth approximately $31,000. AlTi Global Inc. boosted its stake in shares of Krispy Kreme by 40.1% during the 2nd quarter. AlTi Global Inc. now owns 748,666 shares of the company’s stock valued at $2,179,000 after buying an additional 214,192 shares during the period. 180 Wealth Advisors LLC purchased a new position in shares of Krispy Kreme during the 2nd quarter valued at $47,000. Finally, Praxis Investment Management Inc. purchased a new stake in shares of Krispy Kreme during the second quarter worth $191,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Krispy Kreme Stock Down 3.0%

Shares of DNUT opened at $3.83 on Wednesday. Krispy Kreme, Inc. has a 52 week low of $2.50 and a 52 week high of $11.28. The firm has a market capitalization of $656.08 million, a P/E ratio of -1.28 and a beta of 1.33. The company has a 50-day simple moving average of $3.62 and a 200-day simple moving average of $3.39. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.30 and a current ratio of 0.36.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $375.30 million during the quarter, compared to the consensus estimate of $378.29 million. Krispy Kreme had a negative return on equity of 5.13% and a negative net margin of 33.27%.The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. On average, equities research analysts expect that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Analyst Ratings Changes

DNUT has been the subject of several recent research reports. Zacks Research cut Krispy Kreme from a “hold” rating to a “strong sell” rating in a research note on Monday, August 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Krispy Kreme in a report on Wednesday, November 5th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Krispy Kreme in a report on Wednesday, August 27th. Singular Research raised Krispy Kreme to a “moderate buy” rating in a research report on Wednesday, October 22nd. Finally, Capital One Financial dropped their price target on shares of Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 2nd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Krispy Kreme has an average rating of “Hold” and an average target price of $5.51.

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.