Wells Fargo & Company MN Purchases 115,177 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

Wells Fargo & Company MN boosted its position in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 100.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,352 shares of the company's stock after purchasing an additional 115,177 shares during the period. Wells Fargo & Company MN owned about 0.13% of Krispy Kreme worth $2,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Krispy Kreme during the 4th quarter worth $10,591,000. Peregrine Capital Management LLC bought a new position in Krispy Kreme during the fourth quarter worth about $5,897,000. Barclays PLC increased its stake in shares of Krispy Kreme by 450.6% in 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 in the last quarter. Sei Investments Co. grew its stake in Krispy Kreme by 491.7% in the 4th quarter. Sei Investments Co. now owns 121,297 shares of the company's stock valued at $1,204,000 after buying an additional 100,796 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Krispy Kreme by 20.8% during the 4th quarter. Bank of New York Mellon Corp now owns 546,792 shares of the company's stock valued at $5,430,000 after acquiring an additional 94,000 shares during the period. 81.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DNUT shares. 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. Morgan Stanley downgraded shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $12.00 to $6.00 in a report on Wednesday, February 26th. Finally, Truist Financial reduced their price objective on shares of Krispy Kreme from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.57.

Insider Activity at Krispy Kreme

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $4.32, for a total transaction of $3,000,002.40. Following the transaction, the insider now directly owns 74,190,990 shares of the company's stock, valued at approximately $320,505,076.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.30% of the stock is currently owned by insiders.

Krispy Kreme Price Performance

Shares of DNUT stock traded down $0.05 during trading on Tuesday, hitting $4.14. The company had a trading volume of 2,647,603 shares, compared to its average volume of 2,261,727. The stock's 50-day moving average is $5.31 and its two-hundred day moving average is $8.44. The stock has a market capitalization of $705.04 million, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. Krispy Kreme, Inc. has a 52 week low of $3.91 and a 52 week high of $13.25.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last posted its quarterly earnings data 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 last year, the business posted $0.09 EPS. The business's quarterly revenue was down 10.4% compared to the same quarter last year. As a group, analysts predict that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 3.38%. Krispy Kreme's dividend payout ratio (DPR) is presently 700.00%.

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.