Krispy Kreme (NASDAQ:DNUT) Shares Up 6.3% – Here’s What Happened

Krispy Kreme, Inc. (NASDAQ:DNUT) traded up 6.3% during trading on Thursday . The company traded as high as $6.39 and last traded at $6.35. 4,800,603 shares were traded during mid-day trading, an increase of 89% from the average session volume of 2,541,822 shares. The stock had previously closed at $5.97.

Wall Street Analyst Weigh In

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

Krispy Kreme Stock Performance

The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.06 billion, a P/E ratio of 36.53, a PEG ratio of 3.24 and a beta of 1.34. The stock has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $10.32.

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

Krispy Kreme Dividend Announcement

The firm also recently declared 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 2.25%. The ex-dividend date 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 have recently modified their holdings of the business. Stifel Financial Corp lifted its stake in Krispy Kreme by 2.5% in the 3rd quarter. Stifel Financial Corp now owns 38,658 shares of the company’s stock valued at $415,000 after acquiring an additional 958 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Krispy Kreme by 4.4% in the 4th quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company’s stock valued at $306,000 after acquiring an additional 1,300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Krispy Kreme by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company’s stock valued at $483,000 after acquiring an additional 1,707 shares in the last quarter. Swiss National Bank lifted its stake in Krispy Kreme by 1.3% in the 4th quarter. Swiss National Bank now owns 166,800 shares of the company’s stock valued at $1,656,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Krispy Kreme by 2.2% in the 4th quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock valued at $1,182,000 after acquiring an additional 2,532 shares in the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

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.