Krispy Kreme (NASDAQ:DNUT) Trading Up 4.7% – Time to Buy?

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price traded up 4.7% during mid-day trading on Tuesday . The company traded as high as $5.67 and last traded at $5.67. 2,089,473 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 2,408,707 shares. The stock had previously closed at $5.41.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DNUT shares. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $12.00 to $6.00 in a report on Wednesday, February 26th. Truist Financial restated a “buy” rating and set a $12.00 price objective (down previously from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. Finally, Piper Sandler cut their price objective on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Krispy Kreme Stock Up 5.6 %

The stock has a 50-day moving average price of $8.03 and a 200-day moving average price of $9.91. 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 company has a market capitalization of $973.26 million, a P/E ratio of 33.50, a P/E/G ratio of 3.24 and a beta of 1.40.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business had revenue of $404.00 million for the quarter, compared to the consensus estimate of $413.18 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. On average, research analysts predict that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be paid a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a yield of 2.45%. Krispy Kreme’s dividend payout ratio is currently 700.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNUT. Spartan Fund Management Inc. grew its holdings in shares of Krispy Kreme by 150.0% in the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after purchasing an additional 3,000 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Krispy Kreme in the third quarter worth about $51,000. Central Pacific Bank Trust Division bought a new position in shares of Krispy Kreme in the fourth quarter worth approximately $71,000. First Hawaiian Bank purchased a new stake in Krispy Kreme in the 4th quarter worth $111,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Krispy Kreme during the 4th quarter valued at about $128,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.