Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Krispy Kreme, Inc. (NASDAQ:DNUT) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.29.

DNUT has been the subject of several analyst reports. Morgan Stanley downgraded Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $12.00 to $6.00 in a research note on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $12.00 price objective (down from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. Finally, Piper Sandler dropped their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th.

Krispy Kreme Stock Performance

Shares of Krispy Kreme stock opened at $4.28 on Thursday. The business has a 50-day moving average price of $6.21 and a two-hundred day moving average price of $8.89. Krispy Kreme has a 1-year low of $3.92 and a 1-year high of $14.85. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The company has a market cap of $728.88 million, a P/E ratio of 25.18, a PEG ratio of 3.24 and a beta of 1.47.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The business had revenue of $404.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.09 earnings per share. As a group, analysts anticipate that Krispy Kreme will post 0.07 EPS for the current year.

Krispy Kreme Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s payout ratio is 700.00%.

Hedge Funds Weigh In On Krispy Kreme

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Krispy Kreme by 1,440.9% in the first quarter. GAMMA Investing LLC now owns 9,338 shares of the company’s stock valued at $46,000 after buying an additional 8,732 shares during the period. Spartan Fund Management Inc. increased its holdings in Krispy Kreme by 150.0% in the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after acquiring an additional 3,000 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in Krispy Kreme in the 4th quarter valued at about $71,000. First Hawaiian Bank purchased a new stake in Krispy Kreme during the fourth quarter valued at about $111,000. Finally, Ameriprise Financial Inc. bought a new position in Krispy Kreme during the fourth quarter worth about $128,000. Hedge funds and other 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.