Capital One Financial Cuts Krispy Kreme (NASDAQ:DNUT) Price Target to $4.00

Krispy Kreme (NASDAQ:DNUT) had its price target lowered by Capital One Financial from $6.00 to $4.00 in a research report released on Thursday, MarketBeat reports. The brokerage currently has an equal weight rating on the stock.

Several other equities research analysts have also recently commented on the company. Morgan Stanley cut their target price on Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating on the stock in a research note on Monday, July 14th. BNP Paribas upgraded shares of Krispy Kreme to a “hold” rating in a report on Monday, July 21st. BNP Paribas Exane lowered shares of Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 price objective on the stock. in a research report on Monday, July 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Krispy Kreme in a research report on Wednesday, August 27th. Finally, Bank of America lowered their price target on shares of Krispy Kreme from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.45.

Krispy Kreme Trading Up 0.5%

DNUT opened at $3.78 on Thursday. The stock has a market capitalization of $647.14 million, a P/E ratio of -1.43 and a beta of 1.34. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 1.24. Krispy Kreme has a 12 month low of $2.50 and a 12 month high of $12.68. The firm’s fifty day simple moving average is $3.46 and its 200 day simple moving average is $3.59.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The firm had revenue of $379.77 million during the quarter, compared to analyst estimates of $382.25 million. Krispy Kreme had a negative net margin of 29.33% and a negative return on equity of 5.55%. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 EPS. As a group, research analysts anticipate that Krispy Kreme will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Krispy Kreme

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Krispy Kreme by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,867,100 shares of the company’s stock valued at $43,626,000 after purchasing an additional 233,234 shares during the last quarter. Federated Hermes Inc. boosted its stake in Krispy Kreme by 78.9% in the 2nd quarter. Federated Hermes Inc. now owns 3,007,345 shares of the company’s stock valued at $8,751,000 after purchasing an additional 1,326,212 shares during the period. Millennium Management LLC grew its holdings in Krispy Kreme by 522.1% in the 1st quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock valued at $10,300,000 after buying an additional 1,756,932 shares in the last quarter. SG Americas Securities LLC increased its position in Krispy Kreme by 149.2% during the 2nd quarter. SG Americas Securities LLC now owns 784,136 shares of the company’s stock worth $2,282,000 after buying an additional 469,506 shares during the period. Finally, AlTi Global Inc. increased its position in Krispy Kreme by 40.1% during the 2nd quarter. AlTi Global Inc. now owns 748,666 shares of the company’s stock worth $2,179,000 after buying an additional 214,192 shares during the period. Institutional investors 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.