Krispy Kreme, Inc. (DNUT) to Issue Quarterly Dividend of $0.04 on May 8th

Krispy Kreme, Inc. (NASDAQ:DNUT) declared a quarterly dividend on Thursday, February 8th, Zacks reports. Shareholders of record on Wednesday, April 24th will be given a dividend of 0.035 per share on Wednesday, May 8th. This represents a $0.14 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Krispy Kreme has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Krispy Kreme to earn $0.30 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 46.7%.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $13.64 on Friday. The stock has a market capitalization of $2.30 billion, a P/E ratio of -62.00, a price-to-earnings-growth ratio of 2.70 and a beta of 1.47. Krispy Kreme has a 1 year low of $11.52 and a 1 year high of $17.84. The firm has a 50 day moving average of $13.47 and a 200-day moving average of $13.46. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 0.66.

Krispy Kreme (NASDAQ:DNUT) last issued 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 business had revenue of $450.90 million during the quarter, compared to the consensus estimate of $438.95 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Insider Transactions at Krispy Kreme

In other Krispy Kreme news, Director Michael J. Tattersfield sold 100,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $12.82, for a total value of $1,282,000.00. Following the transaction, the director now owns 2,936,940 shares of the company’s stock, valued at $37,651,570.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Krispy Kreme

Large investors have recently modified their holdings of the business. Trexquant Investment LP bought a new stake in Krispy Kreme during the 3rd quarter worth approximately $133,000. Point72 Middle East FZE bought a new stake in shares of Krispy Kreme in the fourth quarter worth $130,000. Ameritas Investment Partners Inc. boosted its holdings in Krispy Kreme by 34.3% during the second quarter. Ameritas Investment Partners Inc. now owns 7,234 shares of the company’s stock worth $107,000 after purchasing an additional 1,847 shares during the last quarter. Lazard Asset Management LLC bought a new position in Krispy Kreme in the third quarter valued at $81,000. Finally, Comerica Bank acquired a new stake in Krispy Kreme in the 3rd quarter valued at $72,000. 81.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on DNUT. Capital One Financial initiated coverage on shares of Krispy Kreme in a research note on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 target price for the company. Citigroup boosted their price objective on shares of Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $14.00 to $20.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. dropped their target price on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Finally, Bank of America raised their price target on Krispy Kreme from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.31.

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.