Bank of New York Mellon Corp Has $5.43 Million Stock Holdings in Krispy Kreme, Inc. (NASDAQ:DNUT)

Bank of New York Mellon Corp increased its position in shares of Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 20.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 546,792 shares of the company's stock after purchasing an additional 94,000 shares during the period. Bank of New York Mellon Corp owned 0.32% of Krispy Kreme worth $5,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in Krispy Kreme in the third quarter valued at $51,000. Central Pacific Bank Trust Division acquired a new stake in shares of Krispy Kreme in the 4th quarter worth $71,000. First Hawaiian Bank acquired a new stake in Krispy Kreme in the fourth quarter valued at about $111,000. Franklin Resources Inc. raised its stake in shares of Krispy Kreme by 30.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,467 shares of the company's stock worth $158,000 after buying an additional 3,395 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Krispy Kreme in the third quarter valued at $278,000. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Stock Down 2.4 %

Shares of DNUT stock traded down $0.14 during trading on Friday, hitting $5.51. 1,614,943 shares of the company were exchanged, compared to its average volume of 2,431,447. Krispy Kreme, Inc. has a twelve month low of $5.31 and a twelve month high of $17.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. The firm has a market capitalization of $937.50 million, a price-to-earnings ratio of 32.38, a P/E/G ratio of 3.24 and a beta of 1.40. The business's 50-day simple moving average is $7.80 and its 200 day simple moving average is $9.82.

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Krispy Kreme (NASDAQ:DNUT - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $413.18 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. Krispy Kreme's quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business earned $0.09 earnings per share. As a group, analysts forecast that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme's dividend payout ratio (DPR) is presently 700.00%.

Wall Street Analysts Forecast Growth

DNUT has been the subject of several recent research reports. Morgan Stanley downgraded shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and dropped their target price for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Truist Financial reaffirmed a "buy" rating and issued a $12.00 price objective (down from $15.00) on shares of Krispy Kreme in a research note on Wednesday, February 26th. Finally, Piper Sandler dropped their target price on Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.13.

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.