Krispy Kreme, Inc. (NASDAQ:DNUT – Get Free Report) rose 8.8% during trading on Wednesday . The company traded as high as $3.69 and last traded at $3.7550. 636,481 shares were traded during mid-day trading, a decline of 74% from the average session volume of 2,420,727 shares. The stock had previously closed at $3.45.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on DNUT. Weiss Ratings restated a “sell (d)” rating on shares of Krispy Kreme in a report on Wednesday. Zacks Research downgraded shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Capital One Financial upgraded shares of Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a research note on Thursday, March 26th. Finally, Wall Street Zen raised shares of Krispy Kreme from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Krispy Kreme has a consensus rating of “Hold” and an average target price of $4.62.
Read Our Latest Stock Report on Krispy Kreme
Krispy Kreme Trading Down 4.6%
Krispy Kreme (NASDAQ:DNUT – Get Free Report) last posted its quarterly 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). Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.The business had revenue of $367.03 million during the quarter, compared to analysts’ expectations of $359.42 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts expect that Krispy Kreme, Inc. will post -0.13 earnings per share for the current fiscal year.
Insider Transactions at Krispy Kreme
In related news, Director Bernardo Hees purchased 235,875 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $3.39 per share, with a total value of $799,616.25. Following the acquisition, the director directly owned 1,229,037 shares in the company, valued at $4,166,435.43. The trade was a 23.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have bought 880,190 shares of company stock worth $2,973,833. 1.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Krispy Kreme
A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in Krispy Kreme by 1,229.5% in the third quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock worth $33,000 after purchasing an additional 7,832 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Krispy Kreme during the 4th quarter valued at about $40,000. Apollon Wealth Management LLC purchased a new stake in shares of Krispy Kreme during the 1st quarter valued at about $35,000. Prudential Financial Inc. bought a new position in shares of Krispy Kreme in the 2nd quarter worth approximately $32,000. Finally, Captrust Financial Advisors bought a new position in shares of Krispy Kreme in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
About Krispy Kreme
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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