Krispy Kreme (NASDAQ:DNUT) Stock Price Down 6.2% - Here's What Happened

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) traded down 6.2% during mid-day trading on Tuesday . The stock traded as low as $4.04 and last traded at $4.02. 1,863,022 shares were traded during trading, a decline of 41% from the average session volume of 3,137,751 shares. The stock had previously closed at $4.28.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DNUT. Truist Financial reissued a "buy" rating and issued a $12.00 price objective (down from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. Morgan Stanley lowered Krispy Kreme from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on shares of Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.29.

Krispy Kreme Stock Up 4.4 %

The stock's fifty day simple moving average is $5.84 and its two-hundred day simple moving average is $8.72. The company has a market capitalization of $707.60 million, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35.

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. On average, sell-side analysts anticipate that Krispy Kreme, Inc. will post 0.07 EPS for the current year.

Krispy Kreme Announces Dividend

The company 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 dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme's dividend payout ratio is presently 700.00%.

Hedge Funds Weigh In On Krispy Kreme

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Krispy Kreme by 1,440.9% in the first quarter. GAMMA Investing LLC now owns 9,338 shares of the company's stock worth $46,000 after buying an additional 8,732 shares during the period. Spartan Fund Management Inc. lifted its stake in Krispy Kreme by 150.0% in the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company's stock worth $50,000 after acquiring an additional 3,000 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Krispy Kreme during the 4th quarter worth about $71,000. First Hawaiian Bank purchased a new position in Krispy Kreme during the 4th quarter valued at about $111,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Krispy Kreme in the 4th quarter valued at about $128,000. 81.72% of the stock is currently 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.