Krispy Kreme (NASDAQ:DNUT) Shares Down 3.2% – What’s Next?

Krispy Kreme, Inc. (NASDAQ:DNUT) dropped 3.2% during mid-day trading on Wednesday . The company traded as low as $5.59 and last traded at $5.54. Approximately 107,329 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 2,410,910 shares. The stock had previously closed at $5.72.

Analyst Upgrades and Downgrades

DNUT has been the subject of a number of research analyst reports. Truist Financial reissued a “buy” rating and issued a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. Piper Sandler reduced their price target 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. Finally, Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Krispy Kreme Stock Performance

The firm’s 50 day moving average price is $7.95 and its 200-day moving average price is $9.88. The firm has a market cap of $947.72 million, a price-to-earnings ratio of 32.62, a P/E/G ratio of 3.24 and a beta of 1.40. 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). The company had revenue of $404.00 million during 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 was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 EPS. On average, analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.52%. Krispy Kreme’s payout ratio is presently 700.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DNUT. BNP Paribas Financial Markets acquired a new stake in shares of Krispy Kreme in the fourth quarter valued at $152,305,000. Bamco Inc. NY increased its stake in shares of Krispy Kreme by 24.7% in the fourth quarter. Bamco Inc. NY now owns 13,069,717 shares of the company’s stock valued at $129,782,000 after buying an additional 2,588,398 shares in the last quarter. Cooper Creek Partners Management LLC increased its stake in shares of Krispy Kreme by 43.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company’s stock valued at $72,139,000 after buying an additional 2,186,136 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Krispy Kreme in the fourth quarter valued at $10,591,000. Finally, Paloma Partners Management Co increased its stake in shares of Krispy Kreme by 6,993.4% in the third quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock valued at $9,366,000 after buying an additional 859,774 shares in the last quarter. 81.72% of the stock is owned by institutional investors.

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.