Krispy Kreme (NASDAQ:DNUT) Sees Strong Trading Volume - What's Next?

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) saw an uptick in trading volume on Wednesday . 2,166,792 shares were traded during trading, an increase of 4% from the previous session's volume of 2,079,715 shares.The stock last traded at $6.67 and had previously closed at $7.13.

Analyst Ratings Changes

Several equities research analysts have recently commented on DNUT shares. 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 note on Tuesday, November 12th. Truist Financial restated 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. Morgan Stanley lowered Krispy Kreme from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $12.00 to $6.00 in a research note on Wednesday. Finally, 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 note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Krispy Kreme currently has a consensus rating of "Moderate Buy" and an average price target of $13.13.

Krispy Kreme Price Performance

The company has a market cap of $1.06 billion, a P/E ratio of 36.53, a P/E/G ratio of 3.24 and a beta of 1.34. 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 fifty day moving average is $8.90 and its two-hundred day moving average is $10.32.

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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 the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The firm had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. During the same period in the prior year, the company posted $0.09 EPS. The company's quarterly revenue was down 10.4% on a year-over-year basis. As a group, analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal 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 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 2.25%. Krispy Kreme's payout ratio is currently 700.00%.

Hedge Funds Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in shares of Krispy Kreme during the 4th quarter worth about $152,305,000. Bamco Inc. NY raised its holdings in shares of Krispy Kreme by 24.7% in the 4th quarter. Bamco Inc. NY now owns 13,069,717 shares of the company's stock valued at $129,782,000 after purchasing an additional 2,588,398 shares in the last quarter. Cooper Creek Partners Management LLC raised its holdings in shares of Krispy Kreme by 43.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company's stock valued at $72,139,000 after purchasing an additional 2,186,136 shares in the last quarter. Banco Santander S.A. raised its holdings in shares of Krispy Kreme by 0.3% in the 3rd quarter. Banco Santander S.A. now owns 6,916,972 shares of the company's stock valued at $74,288,000 after purchasing an additional 21,723 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Krispy Kreme by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,191,111 shares of the company's stock valued at $41,614,000 after purchasing an additional 333,764 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.

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.