Vanguard Group Inc. Trims Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Vanguard Group Inc. reduced its position in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,633,866 shares of the company's stock after selling 121,530 shares during the quarter. Vanguard Group Inc. owned approximately 5.08% of Krispy Kreme worth $85,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of Krispy Kreme in the fourth quarter worth about $71,000. First Hawaiian Bank purchased a new stake in Krispy Kreme during the 4th quarter valued at approximately $111,000. Franklin Resources Inc. raised its position in shares of Krispy Kreme by 30.7% during the third quarter. Franklin Resources Inc. now owns 14,467 shares of the company's stock valued at $158,000 after buying an additional 3,395 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Krispy Kreme in the fourth quarter worth $193,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Krispy Kreme by 4.4% during the fourth quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company's stock worth $306,000 after acquiring an additional 1,300 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors.

Krispy Kreme Trading Down 1.3 %

DNUT stock traded down $0.06 during midday trading on Tuesday, reaching $4.23. 408,060 shares of the company traded hands, compared to its average volume of 2,197,326. The firm has a market capitalization of $719.52 million, a price-to-earnings ratio of 24.85, a P/E/G ratio of 3.24 and a beta of 1.47. Krispy Kreme, Inc. has a 52-week low of $3.92 and a 52-week high of $14.85. The business has a 50 day moving average of $6.21 and a 200-day moving average of $8.89. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35.

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Krispy Kreme (NASDAQ:DNUT - Get Free Report) last released 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). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company had revenue of $404.00 million for the quarter, compared to analysts' expectations of $413.18 million. During the same quarter in the previous year, the company posted $0.09 EPS. The business's quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts expect that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 3.31%. Krispy Kreme's dividend payout ratio (DPR) is presently 700.00%.

Wall Street Analysts Forecast Growth

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

Krispy Kreme 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.