Krispy Kreme (NASDAQ:DNUT) Shares Up 8.8% – Time to Buy?

Krispy Kreme, Inc. (NASDAQ:DNUT)’s share price traded up 8.8% during trading on Wednesday . The stock traded as high as $3.69 and last traded at $3.7550. Approximately 636,481 shares changed hands during trading, a decline of 74% from the average daily volume of 2,420,727 shares. The stock had previously closed at $3.45.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a report on Friday, March 27th. Zacks Research cut shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Capital One Financial raised Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price target on the stock in a report on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.62.

Krispy Kreme Trading Up 9.4%

The business has a fifty day moving average of $3.59 and a 200-day moving average of $3.62. The stock has a market capitalization of $650.81 million, a price-to-earnings ratio of -1.26 and a beta of 1.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.42 and a quick ratio of 0.36.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.The business had revenue of $367.03 million during the quarter, compared to the consensus estimate of $359.42 million. During the same quarter last year, the firm posted ($0.05) earnings per share. Krispy Kreme’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Krispy Kreme, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Krispy Kreme

In other Krispy Kreme news, Director Bernardo Hees bought 25,002 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of $3.49 per share, with a total value of $87,256.98. Following the completion of the purchase, the director directly owned 1,574,635 shares in the company, valued at approximately $5,495,476.15. This trade represents a 1.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 880,190 shares of company stock valued at $2,973,833. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. R Squared Ltd increased its holdings in shares of Krispy Kreme by 33.4% in the third quarter. R Squared Ltd now owns 14,216 shares of the company’s stock valued at $55,000 after buying an additional 3,556 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Krispy Kreme by 4.5% during the 4th quarter. Deutsche Bank AG now owns 83,611 shares of the company’s stock worth $336,000 after acquiring an additional 3,638 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Krispy Kreme by 1,229.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock worth $33,000 after acquiring an additional 7,832 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Krispy Kreme by 21.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,672 shares of the company’s stock worth $192,000 after acquiring an additional 8,351 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Krispy Kreme by 69.1% in the 3rd quarter. Raymond James Financial Inc. now owns 21,287 shares of the company’s stock worth $82,000 after acquiring an additional 8,701 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Company Profile

Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.