Krispy Kreme’s (DNUT) Buy Rating Reiterated at Truist Financial

Truist Financial reaffirmed their buy rating on shares of Krispy Kreme (NASDAQ:DNUT) in a research note issued to investors on Wednesday,Benzinga reports. Truist Financial currently has a $12.00 price target on the stock, down from their previous price target of $15.00.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $12.00 to $6.00 in a research note on Wednesday. Finally, Piper Sandler decreased their target price on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Krispy Kreme Stock Performance

Shares of Krispy Kreme stock opened at $6.21 on Wednesday. The business’s fifty day simple moving average is $8.90 and its 200-day simple moving average is $10.32. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The firm has a market cap of $1.06 billion, a PE ratio of 36.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34. Krispy Kreme has a 52 week low of $5.88 and a 52 week high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results 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 company had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. During the same period in the previous year, the company earned $0.09 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. Equities analysts forecast that Krispy Kreme 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. Investors of record on Wednesday, April 23rd will be given a $0.035 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 2.25%. Krispy Kreme’s payout ratio is currently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

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