Truist Financial Reiterates Buy Rating for Krispy Kreme (NASDAQ:DNUT)

Truist Financial reissued their buy rating on shares of Krispy Kreme (NASDAQ:DNUT - Free Report) in a report issued on Wednesday,Benzinga reports. Truist Financial currently has a $12.00 target price on the stock, down from their previous target price of $15.00.

DNUT has been the topic of a number of other research reports. Piper Sandler dropped their price objective on shares of Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday. Morgan Stanley downgraded shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $12.00 to $6.00 in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Krispy Kreme has an average rating of "Moderate Buy" and an average target price of $13.13.

Krispy Kreme Trading Up 0.2 %

NASDAQ DNUT traded up $0.01 during mid-day trading on Wednesday, hitting $6.21. The company's stock had a trading volume of 5,986,305 shares, compared to its average volume of 2,756,464. Krispy Kreme has a 52-week low of $5.88 and a 52-week high of $17.84. The stock's fifty day simple moving average is $8.90 and its two-hundred day simple moving average is $10.32. 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 firm has a market capitalization of $1.06 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34.

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

Krispy Kreme Dividend Announcement

The firm also recently disclosed 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 2.25%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme's dividend payout ratio is presently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds have recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in shares of Krispy Kreme during the third quarter valued at $51,000. Spartan Fund Management Inc. boosted its holdings in shares of Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company's stock valued at $50,000 after acquiring an additional 3,000 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Krispy Kreme during the fourth quarter valued at $71,000. Blue Trust Inc. boosted its holdings in shares of Krispy Kreme by 28.3% during the third quarter. Blue Trust Inc. now owns 8,064 shares of the company's stock valued at $87,000 after acquiring an additional 1,779 shares during the period. Finally, First Hawaiian Bank acquired a new position in shares of Krispy Kreme during the fourth quarter valued at $111,000. Institutional investors and hedge funds own 81.72% of the company's stock.

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.