Krispy Kreme (NASDAQ:DNUT) Earns Buy Rating from Analysts at Bank of America

Bank of America began coverage on shares of Krispy Kreme (NASDAQ:DNUT) in a research note issued to investors on Tuesday, Price Targets.com reports. The brokerage issued a buy rating and a $23.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on DNUT. Truist downgraded Krispy Kreme from a buy rating to a hold rating and cut their price target for the company from $21.00 to $15.00 in a research note on Monday, November 8th. HSBC downgraded Krispy Kreme from a buy rating to a hold rating and cut their price target for the company from $20.50 to $14.00 in a research note on Thursday, October 21st. Truist Securities downgraded Krispy Kreme from a buy rating to a hold rating and cut their price target for the company from $21.00 to $15.00 in a research note on Monday, November 8th. The Goldman Sachs Group downgraded Krispy Kreme from a neutral rating to a sell rating and cut their price target for the company from $15.00 to $14.00 in a research note on Wednesday, December 1st. Finally, Zacks Investment Research downgraded Krispy Kreme from a hold rating to a sell rating in a research note on Wednesday, January 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $18.63.

Shares of NASDAQ:DNUT opened at $16.20 on Tuesday. Krispy Kreme has a fifty-two week low of $12.63 and a fifty-two week high of $21.69. The business has a 50-day simple moving average of $15.86 and a two-hundred day simple moving average of $15.57. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.33 and a quick ratio of 0.26.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Tuesday, November 9th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The business had revenue of $342.80 million during the quarter, compared to analyst estimates of $337.01 million. Krispy Kreme had a negative return on equity of 0.34% and a negative net margin of 3.82%. Research analysts expect that Krispy Kreme will post 0.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 9th. Investors of record on Wednesday, January 26th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, January 25th. This represents a $0.14 dividend on an annualized basis and a yield of 0.86%.

In other news, major shareholder Indulgence B.V. Jab acquired 300,000 shares of the firm’s stock in a transaction dated Wednesday, December 1st. The shares were acquired at an average cost of $13.46 per share, with a total value of $4,038,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Olivier Goudet acquired 50,000 shares of the firm’s stock in a transaction dated Thursday, November 11th. The shares were purchased at an average cost of $13.86 per share, for a total transaction of $693,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,116,428 shares of company stock worth $30,579,842.

Several institutional investors and hedge funds have recently modified their holdings of the company. Moors & Cabot Inc. purchased a new stake in shares of Krispy Kreme during the 3rd quarter worth approximately $26,000. American International Group Inc. purchased a new stake in Krispy Kreme during the 3rd quarter valued at $168,000. Bank of New York Mellon Corp purchased a new stake in Krispy Kreme during the 3rd quarter valued at $795,000. Cetera Advisor Networks LLC purchased a new stake in Krispy Kreme during the 3rd quarter valued at $154,000. Finally, Squarepoint Ops LLC purchased a new stake in Krispy Kreme during the 3rd quarter valued at $1,428,000. 67.00% of the stock is currently owned by institutional investors and hedge funds.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, operates as a branded retailer and wholesaler of doughnuts, coffee and other complementary beverages, and treats and packaged sweets. The company operates through four segments: Company Stores, Domestic Franchise, International Franchise, and KK Supply Chain.

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Analyst Recommendations for Krispy Kreme (NASDAQ:DNUT)

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