Krispy Kreme (NASDAQ:DNUT) Trading 3.5% Higher – Here’s What Happened

Krispy Kreme, Inc. (NASDAQ:DNUTGet Free Report) shares shot up 3.5% during trading on Monday . The stock traded as high as $3.27 and last traded at $3.26. Approximately 1,554,664 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 2,621,517 shares. The stock had previously closed at $3.15.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on DNUT shares. Weiss Ratings restated a “sell (d)” rating on shares of Krispy Kreme in a report on Wednesday, June 24th. Zacks Research cut Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Krispy Kreme from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $4.50.

View Our Latest Analysis on Krispy Kreme

Krispy Kreme Stock Performance

The business’s fifty day simple moving average is $3.49 and its 200-day simple moving average is $3.47. The firm has a market cap of $562.02 million, a P/E ratio of -1.09 and a beta of 1.26. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31.

Krispy Kreme (NASDAQ:DNUTGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $367.03 million for the quarter, compared to the consensus estimate of $359.42 million. Krispy Kreme had a negative net margin of 33.36% and a negative return on equity of 4.34%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted ($0.05) earnings per share. As a group, sell-side analysts expect that Krispy Kreme, Inc. will post -0.07 earnings per share for the current year.

Insiders Place Their Bets

In other Krispy Kreme news, Director Bernardo Hees acquired 25,002 shares of the company’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $3.49 per share, for a total transaction of $87,256.98. Following the acquisition, the director owned 1,574,635 shares in the company, valued at $5,495,476.15. This represents a 1.61% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders purchased 880,190 shares of company stock valued at $2,973,833. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG increased its stake in Krispy Kreme by 4.5% during the 4th quarter. Deutsche Bank AG now owns 83,611 shares of the company’s stock valued at $336,000 after purchasing an additional 3,638 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of 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 buying an additional 7,832 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Krispy Kreme by 21.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,672 shares of the company’s stock valued at $192,000 after buying an additional 8,351 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Krispy Kreme by 69.1% during the third quarter. Raymond James Financial Inc. now owns 21,287 shares of the company’s stock valued at $82,000 after buying an additional 8,701 shares during the last quarter. Finally, Nuveen LLC increased its position in shares of Krispy Kreme by 5.6% during the fourth quarter. Nuveen LLC now owns 165,576 shares of the company’s stock valued at $666,000 after acquiring an additional 8,735 shares in the last quarter. Institutional investors own 81.72% of the company’s stock.

Krispy Kreme Company Profile

(Get Free Report)

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.

Further Reading

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