Shares of Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) shot up 6.3% during trading on Thursday . The stock traded as high as $6.39 and last traded at $6.35. 4,800,603 shares were traded during trading, an increase of 89% from the average session volume of 2,541,822 shares. The stock had previously closed at $5.97.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Morgan Stanley downgraded shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Piper Sandler decreased their price objective on shares of Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Finally, Truist Financial reaffirmed a "buy" rating and set a $12.00 price objective (down from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.13.
Check Out Our Latest Research Report on DNUT
Krispy Kreme Trading Down 1.6 %
The company's 50 day moving average price is $8.84 and its two-hundred day moving average price is $10.28. 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 $1.04 billion, a PE ratio of 35.94, a P/E/G ratio of 3.24 and a beta of 1.34.
Krispy Kreme (NASDAQ:DNUT - Get Free Report) last posted its quarterly 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). The business had revenue of $404.00 million during the quarter, compared to analysts' expectations of $413.18 million. Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business's quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, analysts expect that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.
Krispy Kreme Dividend Announcement
The firm 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 $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme's dividend payout ratio is currently 700.00%.
Hedge Funds Weigh In On Krispy Kreme
Several hedge funds and other institutional investors have recently modified their holdings of DNUT. Landscape Capital Management L.L.C. increased its position in Krispy Kreme by 86.1% during the third quarter. Landscape Capital Management L.L.C. now owns 216,559 shares of the company's stock worth $2,326,000 after purchasing an additional 100,163 shares during the last quarter. Paloma Partners Management Co increased its position in Krispy Kreme by 6,993.4% during 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Krispy Kreme during the third quarter worth about $810,000. Holocene Advisors LP acquired a new stake in Krispy Kreme during the third quarter worth about $1,716,000. Finally, Barclays PLC increased its position in Krispy Kreme by 450.6% during the third quarter. Barclays PLC now owns 169,209 shares of the company's stock worth $1,816,000 after purchasing an additional 138,475 shares during the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.
About Krispy Kreme
(
Get Free Report)
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.
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