OFI Invest Asset Management Takes Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

OFI Invest Asset Management bought a new stake in Krispy Kreme, Inc. (NASDAQ:DNUT) in the 4th quarter, Holdings Channel reports. The institutional investor bought 44,926 shares of the company’s stock, valued at approximately $431,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stifel Financial Corp increased its position in Krispy Kreme by 2.5% during the 3rd quarter. Stifel Financial Corp now owns 38,658 shares of the company’s stock worth $415,000 after purchasing an additional 958 shares in the last quarter. Handelsbanken Fonder AB increased its position in Krispy Kreme by 4.4% during the 4th quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company’s stock worth $306,000 after purchasing an additional 1,300 shares in the last quarter. Rhumbline Advisers increased its position in Krispy Kreme by 2.2% during the 4th quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock worth $1,182,000 after purchasing an additional 2,532 shares in the last quarter. Franklin Resources Inc. increased its position in Krispy Kreme by 30.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,467 shares of the company’s stock worth $158,000 after purchasing an additional 3,395 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Krispy Kreme during the 3rd quarter worth approximately $51,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Krispy Kreme Trading Up 6.5 %

NASDAQ:DNUT opened at $6.22 on Monday. The firm’s fifty day moving average is $8.54 and its 200-day moving average is $10.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. Krispy Kreme, Inc. has a 52 week low of $5.77 and a 52 week high of $17.84. The firm has a market cap of $1.06 billion, a P/E ratio of 36.59, a P/E/G ratio of 3.24 and a beta of 1.40.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The firm had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. During the same period in the prior year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities analysts expect that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently 700.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Piper Sandler decreased their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley cut shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $12.00 to $6.00 in a research report on Wednesday, February 26th. Finally, Truist Financial restated a “buy” rating and issued a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.13.

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.