Krispy Kreme, Inc. (NASDAQ:DNUT – Get Free Report) shares saw strong trading volume on Friday . 2,696,440 shares were traded during trading, an increase of 12% from the previous session’s volume of 2,412,034 shares.The stock last traded at $4.4750 and had previously closed at $4.20.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Wall Street Zen raised shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Zacks Research cut shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research note on Friday, March 27th. Finally, Capital One Financial raised shares of Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 target price on the stock in a research note on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Krispy Kreme currently has an average rating of “Hold” and an average price target of $4.63.
Get Our Latest Stock Report on DNUT
Krispy Kreme Stock Performance
Krispy Kreme (NASDAQ:DNUT – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $367.03 million during the quarter, compared to analysts’ expectations of $359.42 million. Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.The business’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the business earned ($0.05) earnings per share. As a group, research analysts predict that Krispy Kreme, Inc. will post -0.07 earnings per share for the current fiscal year.
Insider Activity at Krispy Kreme
In related news, Director Bernardo Hees purchased 25,002 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of $3.49 per share, for a total transaction of $87,256.98. Following the completion of the acquisition, the director owned 1,574,635 shares in the company, valued at $5,495,476.15. This trade represents a 1.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 880,190 shares of company stock worth $2,973,833 in the last ninety days. Company insiders own 1.60% of the company’s stock.
Institutional Trading of Krispy Kreme
Several institutional investors have recently made changes to their positions in DNUT. AQR Capital Management LLC acquired a new stake in shares of Krispy Kreme during the first quarter worth approximately $217,000. Millennium Management LLC boosted its holdings in shares of Krispy Kreme by 522.1% during the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock worth $10,300,000 after purchasing an additional 1,756,932 shares during the period. Creative Planning boosted its holdings in shares of Krispy Kreme by 568.2% during the second quarter. Creative Planning now owns 67,074 shares of the company’s stock worth $195,000 after purchasing an additional 57,036 shares during the period. Legal & General Group Plc boosted its holdings in shares of Krispy Kreme by 44.0% during the second quarter. Legal & General Group Plc now owns 137,268 shares of the company’s stock worth $399,000 after purchasing an additional 41,929 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in Krispy Kreme in the second quarter valued at approximately $32,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.
Krispy Kreme Company Profile
Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.
Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.
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