Bernardo Hees Purchases 22,114 Shares of Krispy Kreme (NASDAQ:DNUT) Stock

Krispy Kreme, Inc. (NASDAQ:DNUT) Director Bernardo Hees bought 22,114 shares of the stock in a transaction dated Wednesday, May 27th. The stock was purchased at an average cost of $3.38 per share, with a total value of $74,745.32. Following the completion of the purchase, the director directly owned 718,533 shares in the company, valued at approximately $2,428,641.54. This trade represents a 3.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bernardo Hees also recently made the following trade(s):

• On Thursday, May 28th, Bernardo Hees bought 200,989 shares of Krispy Kreme stock. The stock was purchased at an average cost of $3.42 per share, with a total value of $687,382.38.
• On Tuesday, May 26th, Bernardo Hees bought 1,974 shares of Krispy Kreme stock. The stock was purchased at an average cost of $3.30 per share, with a total value of $6,514.20.

Krispy Kreme Stock Up 2.9%

NASDAQ DNUT opened at $3.52 on Friday. The stock has a fifty day moving average of $3.49 and a 200-day moving average of $3.66. The stock has a market capitalization of $606.85 million, a P/E ratio of -1.18 and a beta of 1.32. Krispy Kreme, Inc. has a 52 week low of $2.50 and a 52 week high of $5.73. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.36 and a current ratio of 0.42.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Krispy Kreme had a negative net margin of 33.36% and a negative return on equity of 4.34%. The firm had revenue of $367.03 million during the quarter, compared to analyst estimates of $359.42 million. During the same period last year, the business posted ($0.05) earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Krispy Kreme, Inc. will post -0.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DNUT. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a research note on Friday, March 27th. Wall Street Zen raised Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Zacks Research cut Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Capital One Financial raised Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a research note on Thursday, March 26th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its holdings in Krispy Kreme by 42.4% during the fourth quarter. Federated Hermes Inc. now owns 3,565,152 shares of the company’s stock worth $14,332,000 after acquiring an additional 1,061,308 shares in the last quarter. Marshall Wace LLP bought a new position in Krispy Kreme during the third quarter worth about $11,704,000. Balyasny Asset Management L.P. lifted its holdings in Krispy Kreme by 419.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,795,546 shares of the company’s stock worth $10,819,000 after acquiring an additional 2,257,061 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Krispy Kreme by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 2,231,100 shares of the company’s stock worth $8,971,000 after acquiring an additional 153,645 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Krispy Kreme by 522.1% during the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock worth $10,300,000 after acquiring an additional 1,756,932 shares in the last quarter. 81.72% of the stock is currently owned by institutional investors.

About Krispy Kreme

Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.