Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.69.

A number of equities research analysts have issued reports on the stock. Piper Sandler raised shares of Krispy Kreme from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $14.00 to $20.00 in a research note on Friday, April 5th. Truist Financial raised shares of Krispy Kreme from a "hold" rating to a "buy" rating and raised their price objective for the stock from $13.00 to $15.00 in a report on Monday, June 10th. Citigroup boosted their price objective on Krispy Kreme from $14.00 to $19.00 and gave the stock a "neutral" rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. initiated coverage on shares of Krispy Kreme in a research note on Monday, June 3rd. They set an "overweight" rating and a $14.00 price objective on the stock. Finally, Bank of America boosted their price target on Krispy Kreme from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Monday, April 8th.

Krispy Kreme Stock Down 3.0 %

Shares of Krispy Kreme stock traded down $0.30 on Tuesday, reaching $9.74. 1,914,406 shares of the company were exchanged, compared to its average volume of 2,386,659. The stock's 50 day moving average price is $11.38 and its 200-day moving average price is $12.87. The company has a market cap of $1.64 billion, a P/E ratio of -36.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.41. Krispy Kreme has a 1-year low of $9.73 and a 1-year high of $17.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. The firm had revenue of $442.70 million for the quarter, compared to analysts' expectations of $433.87 million. As a group, equities analysts forecast that Krispy Kreme will post 0.16 EPS for the current year.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, July 24th. Krispy Kreme's payout ratio is currently -51.85%.

Hedge Funds Weigh In On Krispy Kreme

Several hedge funds have recently added to or reduced their stakes in DNUT. Vanguard Group Inc. boosted its position in shares of Krispy Kreme by 25.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,423,196 shares of the company's stock valued at $105,037,000 after purchasing an additional 1,721,287 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Krispy Kreme by 157.1% during the fourth quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company's stock valued at $106,130,000 after acquiring an additional 4,263,574 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Krispy Kreme by 25.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company's stock valued at $34,971,000 after buying an additional 469,379 shares during the last quarter. Capstone Investment Advisors LLC raised its holdings in shares of Krispy Kreme by 226.1% in the first quarter. Capstone Investment Advisors LLC now owns 172,339 shares of the company's stock valued at $2,626,000 after buying an additional 119,486 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Krispy Kreme in the fourth quarter worth about $272,000. 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.