Krispy Kreme, Inc. (NASDAQ:DNUT) Receives $11.57 Consensus Price Target from Analysts

Krispy Kreme, Inc. (NASDAQ:DNUT) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $10.58.

Several brokerages have recently weighed in on DNUT. Piper Sandler reduced their price objective on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Truist Financial cut shares of Krispy Kreme from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup dropped their price objective on Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating on the stock in a report on Friday. Finally, Morgan Stanley downgraded Krispy Kreme from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $12.00 to $6.00 in a report on Wednesday, February 26th.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $2.73 on Monday. Krispy Kreme has a 12 month low of $2.58 and a 12 month high of $13.25. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The firm has a market capitalization of $465.90 million, a PE ratio of 16.06, a price-to-earnings-growth ratio of 3.24 and a beta of 1.49. The business’s fifty day moving average price is $4.72 and its 200 day moving average price is $8.02.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $375.18 million for the quarter, compared to analyst estimates of $383.97 million. Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS. On average, sell-side analysts anticipate that Krispy Kreme will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend was Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently 700.00%.

Insider Buying and Selling at Krispy Kreme

In other Krispy Kreme news, major shareholder Indulgence B.V. Jab sold 694,445 shares of Krispy Kreme stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $4.32, for a total value of $3,000,002.40. Following the transaction, the insider now directly owns 74,190,990 shares in the company, valued at approximately $320,505,076.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds have recently modified their holdings of DNUT. Handelsbanken Fonder AB increased its position in Krispy Kreme by 4.4% during the 4th quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company’s stock worth $306,000 after purchasing an additional 1,300 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Krispy Kreme by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company’s stock worth $483,000 after acquiring an additional 1,707 shares during the period. Swiss National Bank raised its position in Krispy Kreme by 1.3% in the fourth quarter. Swiss National Bank now owns 166,800 shares of the company’s stock worth $1,656,000 after acquiring an additional 2,100 shares in the last quarter. Rhumbline Advisers raised its position in Krispy Kreme by 2.2% in the fourth quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock worth $1,182,000 after acquiring an additional 2,532 shares in the last quarter. Finally, Spartan Fund Management Inc. lifted its holdings in Krispy Kreme by 150.0% in the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,000 shares during the period. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Company Profile

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.