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

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.91 and last traded at $3.98, with a volume of 2665268 shares changing hands. The stock had previously closed at $4.05.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley downgraded shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $12.00 to $6.00 in a research note on Wednesday, February 26th. Piper Sandler dropped their target price on Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial restated a "buy" rating and issued a $12.00 price target (down previously from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Krispy Kreme has an average rating of "Moderate Buy" and an average price target of $12.29.

Krispy Kreme Stock Up 4.6 %

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 stock has a market capitalization of $739.10 million, a price-to-earnings ratio of 25.53, a PEG ratio of 3.24 and a beta of 1.47. The firm's fifty day moving average is $5.76 and its 200-day moving average is $8.66.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its earnings results 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). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business 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 business earned $0.09 EPS. The business's revenue was down 10.4% on a year-over-year basis. On average, sell-side analysts predict that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

The company 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 is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a yield of 3.23%. Krispy Kreme's dividend payout ratio is currently 700.00%.

Institutional Investors Weigh In On Krispy Kreme

Several large investors have recently modified their holdings of DNUT. SG Americas Securities LLC boosted its position in shares of Krispy Kreme by 275.1% in the first quarter. SG Americas Securities LLC now owns 314,630 shares of the company's stock worth $1,548,000 after buying an additional 230,761 shares during the period. Rhumbline Advisers boosted its position in Krispy Kreme by 3.2% during the 1st quarter. Rhumbline Advisers now owns 122,856 shares of the company's stock worth $604,000 after acquiring an additional 3,773 shares during the period. GAMMA Investing LLC grew its stake in Krispy Kreme by 1,440.9% during the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company's stock valued at $46,000 after acquiring an additional 8,732 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of Krispy Kreme by 348.2% in the 1st quarter. Central Pacific Bank Trust Division now owns 32,189 shares of the company's stock valued at $158,000 after purchasing an additional 25,007 shares during the period. Finally, First Hawaiian Bank lifted its position in shares of Krispy Kreme by 348.0% in the first quarter. First Hawaiian Bank now owns 49,850 shares of the company's stock worth $245,000 after purchasing an additional 38,722 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.