Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 44.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,317 shares of the company’s stock after buying an additional 6,553 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Krispy Kreme were worth $322,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in Krispy Kreme by 9.6% during the third quarter. Amalgamated Bank now owns 10,248 shares of the company’s stock valued at $128,000 after acquiring an additional 895 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Krispy Kreme during the third quarter worth about $147,000. Connable Office Inc. raised its stake in Krispy Kreme by 25.6% during the 3rd quarter. Connable Office Inc. now owns 13,051 shares of the company’s stock valued at $163,000 after purchasing an additional 2,661 shares during the period. Commonwealth Equity Services LLC purchased a new position in Krispy Kreme in the 3rd quarter worth approximately $182,000. Finally, Arizona State Retirement System boosted its stake in 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.

Krispy Kreme Price Performance

NASDAQ:DNUT opened at $12.66 on Friday. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -57.55, a PEG ratio of 2.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26. The business has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $13.50. Krispy Kreme, Inc. has a 1 year low of $11.52 and a 1 year high of $17.84.

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

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Wednesday, July 24th. Krispy Kreme’s dividend payout ratio (DPR) is currently -63.64%.

Insiders Place Their Bets

In other news, Director Michael J. Tattersfield sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $12.82, for a total transaction 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 SEC, which is available at this link. 4.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DNUT shares. Capital One Financial began coverage on shares of Krispy Kreme in a report on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 target price on the stock. Citigroup increased their price objective on shares of Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Piper Sandler raised Krispy Kreme from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $14.00 to $20.00 in a report on Friday, April 5th. JPMorgan Chase & Co. dropped their price target on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. Finally, Bank of America lifted their price objective on Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research note 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 has a consensus rating of “Hold” and an average price target of $16.31.

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.