Krispy Kreme (NASDAQ:DNUT) Hits New 12-Month Low - Here's What Happened

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $5.16 and last traded at $5.19, with a volume of 820039 shares changing hands. The stock had previously closed at $5.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial reiterated a "buy" rating and set a $12.00 price target (down previously from $15.00) on shares of Krispy Kreme in a research note on Wednesday, February 26th. Piper Sandler cut their target price on Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley downgraded 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 report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.29.

Krispy Kreme Stock Down 1.2 %

The stock has a fifty day moving average of $7.30 and a 200 day moving average of $9.49. 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 $827.66 million, a P/E ratio of 28.59, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40.

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Krispy Kreme (NASDAQ:DNUT - Get Free Report) last released its earnings results 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 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 revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, research analysts anticipate that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a dividend of $0.035 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 2.88%. Krispy Kreme's payout ratio is currently 700.00%.

Hedge Funds Weigh In On Krispy Kreme

Several institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new position in shares of Krispy Kreme during the 3rd quarter valued at $278,000. Dynamic Technology Lab Private Ltd purchased a new stake in Krispy Kreme during the third quarter valued at about $291,000. Verition Fund Management LLC lifted its holdings in Krispy Kreme by 100.6% during the third quarter. Verition Fund Management LLC now owns 711,366 shares of the company's stock valued at $7,640,000 after purchasing an additional 356,803 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Krispy Kreme in the third quarter worth about $543,000. Finally, Paloma Partners Management Co increased its stake in shares of Krispy Kreme by 6,993.4% in the third quarter. Paloma Partners Management Co now owns 872,068 shares of the company's stock worth $9,366,000 after purchasing an additional 859,774 shares in the last quarter. 81.72% of the stock is owned by institutional investors.

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.