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

Truist Financial reiterated their buy rating on shares of Krispy Kreme (NASDAQ:DNUT - Free Report) in a research report sent to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a $12.00 price objective on the stock, down from their previous price objective of $15.00.

Several other research firms also recently issued reports on DNUT. JPMorgan Chase & Co. cut their price objective on Krispy Kreme from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Piper Sandler dropped their price target on Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley cut Krispy Kreme from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $12.00 to $6.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.13.

Krispy Kreme Price Performance

NASDAQ DNUT traded up $0.01 on Wednesday, reaching $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 twelve month low of $5.88 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's 50 day moving average is $8.90 and its two-hundred day moving average is $10.32. The stock has a market cap of $1.06 billion, a PE ratio of 36.53, a PEG ratio of 3.24 and a beta of 1.34.

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Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.09). The business had revenue of $404.00 million for 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 quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, sell-side analysts predict that Krispy Kreme will post 0.07 EPS for the current year.

Krispy Kreme Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a yield of 2.25%. Krispy Kreme's payout ratio is 700.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DNUT. BNP Paribas Financial Markets bought a new position in Krispy Kreme in the fourth quarter worth $152,305,000. Bamco Inc. NY boosted its position in shares of Krispy Kreme by 24.7% during the 4th quarter. Bamco Inc. NY now owns 13,069,717 shares of the company's stock valued at $129,782,000 after acquiring an additional 2,588,398 shares in the last quarter. Cooper Creek Partners Management LLC increased its stake in Krispy Kreme by 43.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company's stock valued at $72,139,000 after acquiring an additional 2,186,136 shares during the period. Banco Santander S.A. raised its position in Krispy Kreme by 0.3% in the third quarter. Banco Santander S.A. now owns 6,916,972 shares of the company's stock worth $74,288,000 after purchasing an additional 21,723 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Krispy Kreme by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,191,111 shares of the company's stock worth $41,614,000 after purchasing an additional 333,764 shares during the period. Institutional investors and hedge funds own 81.72% of the company's stock.

Krispy Kreme Company Profile

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.