Krispy Kreme (NASDAQ:DNUT) Shares Down 3.6% – What’s Next?

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) traded down 3.6% on Thursday . The company traded as low as $3.63 and last traded at $3.5850. Approximately 216,269 shares were traded during mid-day trading, a decline of 91% from the average session volume of 2,443,080 shares. The stock had previously closed at $3.72.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DNUT. Capital One Financial raised Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price target on the stock in a research report on Thursday, March 26th. Zacks Research downgraded Krispy Kreme from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Krispy Kreme from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.62.

Krispy Kreme Price Performance

The business has a fifty day moving average of $3.57 and a 200 day moving average of $3.58. The firm has a market cap of $605.12 million, a P/E ratio of -1.17 and a beta of 1.26. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 1.31.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share (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 business had revenue of $367.03 million during the quarter, compared to the consensus estimate of $359.42 million. During the same quarter in the prior year, the company earned ($0.05) EPS. Krispy Kreme’s quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Krispy Kreme, Inc. will post -0.13 earnings per share for the current year.

Insider Transactions at Krispy Kreme

In other Krispy Kreme news, Director Bernardo Hees purchased 25,002 shares of the business’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $3.49 per share, with a total value of $87,256.98. Following the acquisition, the director directly owned 1,574,635 shares of the company’s stock, valued at $5,495,476.15. This trade represents a 1.61% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders acquired 880,190 shares of company stock worth $2,973,833. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Krispy Kreme

Several large investors have recently modified their holdings of the stock. Prudential Financial Inc. acquired a new stake in shares of Krispy Kreme during the 2nd quarter worth about $32,000. Russell Investments Group Ltd. grew its stake in Krispy Kreme by 1,229.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock valued at $33,000 after buying an additional 7,832 shares during the last quarter. Captrust Financial Advisors bought a new position in Krispy Kreme in the 2nd quarter valued at about $34,000. Apollon Wealth Management LLC bought a new position in Krispy Kreme in the 1st quarter valued at about $35,000. Finally, Raymond James Financial Inc. acquired a new stake in Krispy Kreme during the second quarter worth approximately $37,000. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Company Profile

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.