Krispy Kreme (NASDAQ:DNUT) Cut to Underweight at Morgan Stanley

Krispy Kreme (NASDAQ:DNUT) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. They currently have a $6.00 price target on the stock, down from their previous price target of $12.00. Morgan Stanley’s price target points to a potential downside of 15.85% from the company’s current price.

Separately, JPMorgan Chase & Co. cut their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Krispy Kreme presently has an average rating of “Moderate Buy” and an average price target of $14.50.

Krispy Kreme Trading Down 21.9 %

Shares of DNUT opened at $7.13 on Wednesday. Krispy Kreme has a fifty-two week low of $6.35 and a fifty-two week high of $17.84. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 41.94, a PEG ratio of 3.24 and a beta of 1.34. The firm has a 50 day moving average price of $9.11 and a 200-day moving average price of $10.40. 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 (NASDAQ:DNUT) last released its quarterly earnings data 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 analysts’ expectations of $413.18 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. Krispy Kreme’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. As a group, equities research analysts forecast that Krispy Kreme will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Krispy Kreme

Large investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Krispy Kreme in the 4th quarter worth about $10,591,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Krispy Kreme by 13.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,373 shares of the company’s stock valued at $1,652,000 after purchasing an additional 19,295 shares during the last quarter. Point72 Asset Management L.P. raised its position in Krispy Kreme by 339.1% in the fourth quarter. Point72 Asset Management L.P. now owns 168,820 shares of the company’s stock worth $1,676,000 after acquiring an additional 130,374 shares during the period. ProShare Advisors LLC lifted its position in Krispy Kreme by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 24,094 shares of the company’s stock valued at $239,000 after purchasing an additional 7,927 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Krispy Kreme by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company’s stock valued at $483,000 after acquiring an additional 1,707 shares during the period. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.