Lazard Asset Management LLC Makes New Investment in Krispy Kreme, Inc. $DNUT

Lazard Asset Management LLC purchased a new stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) in the first quarter, HoldingsChannel reports. The firm purchased 555,337 shares of the company’s stock, valued at approximately $1,883,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DNUT. AQR Capital Management LLC purchased a new position in shares of Krispy Kreme during the 1st quarter worth approximately $217,000. Millennium Management LLC raised its position in Krispy Kreme by 522.1% in the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock valued at $10,300,000 after purchasing an additional 1,756,932 shares during the period. Creative Planning raised its position in Krispy Kreme by 568.2% in the second quarter. Creative Planning now owns 67,074 shares of the company’s stock valued at $195,000 after purchasing an additional 57,036 shares during the period. Legal & General Group Plc lifted its stake in Krispy Kreme by 44.0% during the second quarter. Legal & General Group Plc now owns 137,268 shares of the company’s stock worth $399,000 after purchasing an additional 41,929 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new position in Krispy Kreme during the second quarter worth $32,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

Krispy Kreme Stock Down 3.8%

Shares of NASDAQ DNUT opened at $3.06 on Tuesday. The stock has a market cap of $527.54 million, a P/E ratio of -1.02 and a beta of 1.27. The business’s fifty day simple moving average is $3.48 and its 200-day simple moving average is $3.43. Krispy Kreme, Inc. has a 12-month low of $2.88 and a 12-month high of $5.11. The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31.

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 return on equity of 4.34% and a negative net margin of 33.36%.The company had revenue of $367.03 million for the quarter, compared to analyst estimates of $359.42 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts predict that Krispy Kreme, Inc. will post -0.07 EPS for the current fiscal year.

Insider Activity at Krispy Kreme

In related news, Director Bernardo Hees acquired 235,875 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost of $3.39 per share, with a total value of $799,616.25. Following the completion of the transaction, the director owned 1,229,037 shares in the company, valued at $4,166,435.43. This represents a 23.75% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought 880,190 shares of company stock worth $2,973,833 over the last three months. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research note on Wednesday, June 24th. Finally, Zacks Research lowered Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.50.

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.