Brokerages Set Krispy Kreme, Inc. (NASDAQ:DNUT) Target Price at $4.62

Krispy Kreme, Inc. (NASDAQ:DNUTGet Free Report) has received a consensus recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $4.6250.

DNUT has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Krispy Kreme in a research note on Wednesday, June 24th. Capital One Financial upgraded Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price target for the company in a report on Thursday, March 26th. Finally, Zacks Research downgraded Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th.

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Insiders Place Their Bets

In other Krispy Kreme news, Director Bernardo Hees purchased 25,002 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $3.49 per share, for a total transaction of $87,256.98. Following the purchase, the director owned 1,574,635 shares in the company, valued at approximately $5,495,476.15. The trade was a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders acquired 880,190 shares of company stock valued at $2,973,833. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Krispy Kreme

Several institutional investors and hedge funds have recently modified their holdings of DNUT. Federated Hermes Inc. lifted its stake in shares of Krispy Kreme by 42.4% during the 4th quarter. Federated Hermes Inc. now owns 3,565,152 shares of the company’s stock worth $14,332,000 after buying an additional 1,061,308 shares during the last quarter. Marshall Wace LLP acquired a new position in Krispy Kreme in the 3rd quarter valued at about $11,704,000. Balyasny Asset Management L.P. raised its holdings in Krispy Kreme by 419.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,795,546 shares of the company’s stock valued at $10,819,000 after acquiring an additional 2,257,061 shares during the period. Geode Capital Management LLC raised its holdings in Krispy Kreme by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 2,231,100 shares of the company’s stock valued at $8,971,000 after acquiring an additional 153,645 shares during the period. Finally, Millennium Management LLC lifted its position in 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 acquiring an additional 1,756,932 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Krispy Kreme Stock Up 0.6%

Shares of NASDAQ:DNUT traded up $0.02 during midday trading on Friday, hitting $3.44. The stock had a trading volume of 2,254,463 shares, compared to its average volume of 2,661,170. Krispy Kreme has a 12 month low of $2.88 and a 12 month high of $5.73. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 1.31. The business’s 50-day simple moving average is $3.53 and its 200-day simple moving average is $3.54. The company has a market cap of $593.06 million, a P/E ratio of -1.15 and a beta of 1.26.

Krispy Kreme (NASDAQ:DNUTGet Free Report) last issued 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). The firm had revenue of $367.03 million for the quarter, compared to analyst estimates of $359.42 million. Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.Krispy Kreme’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, sell-side analysts forecast that Krispy Kreme will post -0.06 earnings per share for the current fiscal year.

About Krispy Kreme

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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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