Krispy Kreme (NASDAQ:DNUT) Sets New 1-Year Low – What’s Next?

Krispy Kreme, Inc. (NASDAQ:DNUT) shares reached a new 52-week low on Thursday . The stock traded as low as $4.63 and last traded at $4.67, with a volume of 673206 shares. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DNUT shares. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Piper Sandler cut their target price on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $12.00 target price (down from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.29.

Krispy Kreme Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The firm has a fifty day simple moving average of $6.98 and a 200-day simple moving average of $9.32. The firm has a market cap of $751.02 million, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm 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%. Krispy Kreme’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, equities research analysts expect that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s payout ratio is presently 700.00%.

Hedge Funds Weigh In On Krispy Kreme

Several large investors have recently added to or reduced their stakes in the business. Edgestream Partners L.P. purchased a new stake in shares of Krispy Kreme in the third quarter worth approximately $543,000. Holocene Advisors LP bought a new stake in Krispy Kreme during the third quarter worth $1,716,000. Point72 DIFC Ltd purchased a new stake in Krispy Kreme in the 3rd quarter valued at $51,000. Stifel Financial Corp lifted its stake in Krispy Kreme by 2.5% during the 3rd quarter. Stifel Financial Corp now owns 38,658 shares of the company’s stock valued at $415,000 after acquiring an additional 958 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Krispy Kreme by 450.6% during the 3rd quarter. Barclays PLC now owns 169,209 shares of the company’s stock worth $1,816,000 after acquiring an additional 138,475 shares during the last quarter. 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.