Gabelli Funds LLC Reduces Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Gabelli Funds LLC reduced its stake in Krispy Kreme, Inc. (NASDAQ:DNUT) by 5.7% during the 4th quarter, Holdings Channel reports. The fund owned 66,000 shares of the company’s stock after selling 4,000 shares during the period. Gabelli Funds LLC’s holdings in Krispy Kreme were worth $655,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DNUT. Cooper Creek Partners Management LLC lifted its holdings in Krispy Kreme by 43.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company’s stock valued at $72,139,000 after purchasing an additional 2,186,136 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Krispy Kreme in the 4th quarter worth approximately $10,591,000. Peregrine Capital Management LLC acquired a new position in Krispy Kreme in the 4th quarter valued at $5,897,000. Barclays PLC lifted its stake in shares of 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 purchasing an additional 138,475 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Krispy Kreme by 100.9% during the fourth quarter. Wells Fargo & Company MN now owns 229,352 shares of the company’s stock worth $2,277,000 after purchasing an additional 115,177 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial reissued a “buy” rating and issued a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a research note on Wednesday, February 26th. Piper Sandler cut their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley cut shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $12.00 to $6.00 in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Krispy Kreme has an average rating of “Moderate Buy” and an average price target of $12.29.

Krispy Kreme Stock Performance

Shares of DNUT stock opened at $4.16 on Friday. The company’s fifty day simple moving average is $5.84 and its 200-day simple moving average is $8.72. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. Krispy Kreme, Inc. has a 52 week low of $3.91 and a 52 week high of $13.68. The company has a market cap of $707.60 million, a PE ratio of 24.44, a P/E/G ratio of 3.24 and a beta of 1.47.

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

Krispy Kreme Dividend Announcement

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 dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.37%. Krispy Kreme’s dividend payout ratio is currently 700.00%.

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.