Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Average Recommendation of “Hold” from Analysts

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have been given a consensus recommendation of “Hold” by the nine research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.58.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Krispy Kreme in a research note on Wednesday, May 14th. Morgan Stanley cut Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $12.00 to $6.00 in a research note on Wednesday, February 26th. Piper Sandler lowered their price target on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Truist Financial cut Krispy Kreme from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Citigroup lowered their target price on Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating for the company in a research note on Friday, May 9th.

Krispy Kreme Stock Performance

Krispy Kreme stock opened at $2.96 on Friday. 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 has a 1 year low of $2.58 and a 1 year high of $12.68. The company has a market cap of $505.15 million, a PE ratio of 17.41, a PEG ratio of 3.24 and a beta of 1.49. The company’s 50-day moving average is $3.84 and its two-hundred day moving average is $6.99.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company had revenue of $375.18 million for the quarter, compared to the consensus estimate of $383.97 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was down 15.2% compared to the same quarter last year. Equities analysts anticipate that Krispy Kreme will post 0.07 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $4.32, for a total transaction of $3,000,002.40. Following the completion of the transaction, the insider now directly owns 74,190,990 shares of the company’s stock, valued at $320,505,076.80. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Krispy Kreme by 1,440.9% during the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company’s stock worth $46,000 after acquiring an additional 8,732 shares in the last quarter. Spartan Fund Management Inc. grew its stake in shares of Krispy Kreme by 150.0% during the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after acquiring an additional 3,000 shares in the last quarter. Malaga Cove Capital LLC bought a new position in shares of Krispy Kreme during the 1st quarter worth approximately $51,000. Teacher Retirement System of Texas bought a new position in shares of Krispy Kreme during the 1st quarter worth approximately $61,000. Finally, Vident Advisory LLC grew its stake in shares of Krispy Kreme by 45.1% during the 1st quarter. Vident Advisory LLC now owns 20,720 shares of the company’s stock worth $102,000 after acquiring an additional 6,444 shares in the last quarter. 81.72% of the stock is owned by 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.