Krispy Kreme (NASDAQ:DNUT) Sees Strong Trading Volume After Analyst Upgrade

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) saw unusually-strong trading volume on Wednesday after Citigroup raised their price target on the stock from $14.00 to $19.00. Citigroup currently has a neutral rating on the stock. Approximately 8,862,268 shares changed hands during trading, an increase of 439% from the previous session’s volume of 1,643,215 shares.The stock last traded at $15.69 and had previously closed at $17.35.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. Capital One Financial began coverage on Krispy Kreme in a research note on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.06.

Insider Transactions at Krispy Kreme

In other Krispy Kreme news, Director Michael J. Tattersfield sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $12.82, for a total transaction of $1,282,000.00. Following the completion of the transaction, the director now directly owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Krispy Kreme

Several large investors have recently bought and sold shares of DNUT. US Bancorp DE bought a new position in shares of Krispy Kreme in the first quarter worth about $30,000. Tower Research Capital LLC TRC boosted its position in Krispy Kreme by 100.3% in the first quarter. Tower Research Capital LLC TRC now owns 2,113 shares of the company’s stock valued at $33,000 after buying an additional 1,058 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Krispy Kreme during the fourth quarter worth $35,000. UBS Group AG increased its holdings in shares of Krispy Kreme by 28.3% during the second quarter. UBS Group AG now owns 3,672 shares of the company’s stock worth $50,000 after buying an additional 810 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Krispy Kreme by 178.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,330 shares of the company’s stock valued at $65,000 after acquiring an additional 2,777 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

Krispy Kreme Stock Performance

The company has a fifty day moving average of $13.16 and a two-hundred day moving average of $13.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.26 and a current ratio of 0.33. The company has a market cap of $2.57 billion, a price-to-earnings ratio of -69.25, a P/E/G ratio of 3.74 and a beta of 1.43.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The firm had revenue of $450.90 million during the quarter, compared to analyst estimates of $438.95 million. During the same period in the prior year, the company earned $0.11 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Krispy Kreme, Inc. will post 0.17 EPS for the current year.

Krispy Kreme Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $0.035 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 0.92%. Krispy Kreme’s payout ratio is -63.64%.

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.