Shares of Krispy Kreme, Inc. (NASDAQ:DNUT – Get Free Report) traded down 3.6% during trading on Thursday . The company traded as low as $3.63 and last traded at $3.5850. 216,269 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 2,443,080 shares. The stock had previously closed at $3.72.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Capital One Financial upgraded Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a report on Thursday, March 26th. Wall Street Zen upgraded Krispy Kreme from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Zacks Research lowered Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Krispy Kreme in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.62.
Get Our Latest Stock Analysis on DNUT
Krispy Kreme Trading Down 3.9%
Krispy Kreme (NASDAQ:DNUT – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $367.03 million for the quarter, compared to analysts’ expectations of $359.42 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts predict that Krispy Kreme, Inc. will post -0.13 EPS for the current year.
Insider Activity
In other Krispy Kreme news, Director Bernardo Hees bought 235,875 shares of Krispy Kreme stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average cost of $3.39 per share, with a total value of $799,616.25. Following the completion of the purchase, the director owned 1,229,037 shares of the company’s stock, valued at approximately $4,166,435.43. This represents a 23.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 880,190 shares of company stock worth $2,973,833 over the last 90 days. 1.60% of the stock is currently owned by insiders.
Institutional Trading of Krispy Kreme
Large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. purchased a new position in Krispy Kreme during the 2nd quarter valued at $32,000. Russell Investments Group Ltd. lifted its position in shares of Krispy Kreme by 1,229.5% in the 3rd 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 period. Captrust Financial Advisors bought a new stake in shares of Krispy Kreme during the 2nd quarter valued at about $34,000. Apollon Wealth Management LLC bought a new stake in shares of Krispy Kreme during the 1st quarter valued at about $35,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Krispy Kreme during the second quarter valued at about $37,000. Institutional investors own 81.72% of the company’s stock.
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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