Krispy Kreme, Inc. (NASDAQ:DNUT) Receives $16.31 Average Target Price from Brokerages

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have received an average rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.31.

A number of equities analysts recently issued reports on the stock. Capital One Financial started coverage on shares of 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. Citigroup raised their target price on Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Piper Sandler raised Krispy Kreme from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $14.00 to $20.00 in a research note on Friday, April 5th. Bank of America increased their price objective on Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 19th.

Krispy Kreme Trading Down 0.8 %

DNUT opened at $12.99 on Thursday. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -59.05, a PEG ratio of 2.56 and a beta of 1.47. Krispy Kreme has a one year low of $11.52 and a one year high of $17.84. The business has a 50 day simple moving average of $13.47 and a two-hundred day simple moving average of $13.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $450.90 million during the quarter, compared to analysts’ expectations of $438.95 million. Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. During the same period in the previous year, the business earned $0.11 EPS. The business’s revenue was up 11.4% compared to the same quarter last year. Analysts predict that Krispy Kreme will post 0.16 EPS for the current year.

Krispy Kreme Announces Dividend

The business also recently disclosed 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. This represents a $0.14 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, April 23rd. Krispy Kreme’s dividend payout ratio (DPR) is currently -63.64%.

Insider Buying and Selling at Krispy Kreme

In other news, Director Michael J. Tattersfield sold 100,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 2,936,940 shares in the company, valued at approximately $37,651,570.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Institutional Trading of Krispy Kreme

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank boosted its position in Krispy Kreme by 9.6% in the 3rd quarter. Amalgamated Bank now owns 10,248 shares of the company’s stock valued at $128,000 after buying an additional 895 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Krispy Kreme by 4.9% in the 4th quarter. Natixis Advisors L.P. now owns 25,248 shares of the company’s stock worth $380,000 after buying an additional 1,181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Krispy Kreme by 15.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,764 shares of the company’s stock valued at $184,000 after acquiring an additional 2,017 shares in the last quarter. Connable Office Inc. increased its position in Krispy Kreme by 15.8% during the 4th quarter. Connable Office Inc. now owns 15,109 shares of the company’s stock valued at $228,000 after purchasing an additional 2,058 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Krispy Kreme by 14.1% in the 3rd quarter. Arizona State Retirement System now owns 21,551 shares of the company’s stock worth $269,000 after purchasing an additional 2,665 shares during the period. Institutional investors own 81.72% of the company’s stock.

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.