Krispy Kreme (NASDAQ:DNUT) Sees Unusually-High Trading Volume – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT) shares saw unusually-strong trading volume on Wednesday . Approximately 2,166,792 shares traded hands during trading, an increase of 4% from the previous session’s volume of 2,079,715 shares.The stock last traded at $6.67 and had previously closed at $7.13.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler lowered their price objective on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial reissued a “buy” rating and set a $12.00 target price (down from $15.00) on shares of Krispy Kreme in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Morgan Stanley cut Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $12.00 to $6.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Krispy Kreme Stock Performance

The company has a fifty day moving average price of $9.11 and a two-hundred day moving average price of $10.40. The company has a market capitalization of $1.12 billion, a P/E ratio of 38.79, a PEG ratio of 3.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. During the same period in the previous year, the company posted $0.09 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts forecast that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

A number of hedge funds and other institutional investors have recently bought and sold shares of DNUT. Spartan Fund Management Inc. raised its position in shares of Krispy Kreme by 150.0% in the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after buying an additional 3,000 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Krispy Kreme in the 3rd quarter valued at $51,000. Central Pacific Bank Trust Division bought a new position in shares of Krispy Kreme during the 4th quarter valued at $71,000. Blue Trust Inc. raised its position in Krispy Kreme by 28.3% in the 3rd quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after purchasing an additional 1,779 shares during the period. Finally, First Hawaiian Bank bought a new stake in Krispy Kreme in the fourth quarter worth $111,000. Institutional investors own 81.72% of the company’s stock.

About Krispy Kreme

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.