Krispy Kreme (NASDAQ:DNUT) Sets New 12-Month Low - Here's Why

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.85 and last traded at $5.99, with a volume of 293175 shares trading hands. The stock had previously closed at $6.11.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley cut Krispy Kreme from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $12.00 to $6.00 in a research report on Wednesday, February 26th. Piper Sandler reduced their price objective on Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on Krispy Kreme from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Finally, Truist Financial reissued a "buy" rating and set a $12.00 price objective (down previously from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $13.13.

Krispy Kreme Trading Down 1.3 %

The company has a fifty day simple moving average of $8.69 and a two-hundred day simple moving average of $10.22. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The company has a market capitalization of $1.01 billion, a P/E ratio of 35.06, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.09). The business had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The company's revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. On average, analysts forecast that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a $0.035 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.35%. Krispy Kreme's payout ratio is presently 700.00%.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors have recently added to or reduced their stakes in DNUT. Walkner Condon Financial Advisors LLC acquired a new stake in Krispy Kreme during the third quarter worth about $346,000. Versor Investments LP acquired a new stake in Krispy Kreme during the third quarter worth about $411,000. Sargent Investment Group LLC acquired a new stake in Krispy Kreme during the third quarter valued at approximately $215,000. Connable Office Inc. boosted its holdings in Krispy Kreme by 98.3% during the third quarter. Connable Office Inc. now owns 29,968 shares of the company's stock valued at $322,000 after purchasing an additional 14,859 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Krispy Kreme during the third quarter valued at approximately $810,000. 81.72% of the stock is owned by institutional investors and hedge funds.

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.