OFI Invest Asset Management Acquires New Stake in Krispy Kreme, Inc. (NASDAQ:DNUT)

OFI Invest Asset Management acquired a new stake in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,926 shares of the company's stock, valued at approximately $431,000.

Other hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in Krispy Kreme during the third quarter worth about $51,000. Central Pacific Bank Trust Division purchased a new position in Krispy Kreme during the fourth quarter worth about $71,000. First Hawaiian Bank purchased a new position in Krispy Kreme during the fourth quarter worth about $111,000. Franklin Resources Inc. boosted its stake in Krispy Kreme by 30.7% during the third quarter. Franklin Resources Inc. now owns 14,467 shares of the company's stock worth $158,000 after buying an additional 3,395 shares during the period. Finally, Sargent Investment Group LLC purchased a new position in Krispy Kreme during the third quarter worth about $215,000. Hedge funds and other institutional investors own 81.72% of the company's stock.

Krispy Kreme Stock Down 3.6 %

NASDAQ:DNUT traded down $0.20 during mid-day trading on Thursday, hitting $5.35. The stock had a trading volume of 2,714,498 shares, compared to its average volume of 2,992,181. The stock has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $10.04. The company has a market capitalization of $911.11 million, a PE ratio of 31.47, a PEG ratio of 3.24 and a beta of 1.41. Krispy Kreme, Inc. has a twelve month low of $5.30 and a twelve month high of $17.84. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67.

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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 the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. During the same period last year, the business earned $0.09 EPS. The firm's revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that Krispy Kreme, Inc. will post 0.07 EPS for the current year.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 2.62%. Krispy Kreme's payout ratio is currently 700.00%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley cut shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and reduced their price target for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. Piper Sandler reduced their price target on shares of 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, Truist Financial reissued a "buy" rating and set a $12.00 price target (down previously from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.13.

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.