Swiss National Bank Sells 17,200 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

Swiss National Bank lessened its stake in Krispy Kreme, Inc. (NASDAQ:DNUT) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,200 shares of the company’s stock after selling 17,200 shares during the period. Swiss National Bank owned about 0.09% of Krispy Kreme worth $2,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DNUT. Commonwealth Equity Services LLC bought a new stake in shares of Krispy Kreme in the 3rd quarter valued at about $182,000. Bank of New York Mellon Corp increased its holdings in Krispy Kreme by 7.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 609,667 shares of the company’s stock valued at $7,603,000 after purchasing an additional 40,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Krispy Kreme by 15.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,764 shares of the company’s stock valued at $184,000 after purchasing an additional 2,017 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Krispy Kreme by 15.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,633 shares of the company’s stock valued at $482,000 after purchasing an additional 5,208 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Krispy Kreme during the 3rd quarter valued at about $147,000. Institutional investors own 81.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DNUT. JPMorgan Chase & Co. reduced their price target on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, March 19th. Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $14.00 to $20.00 in a report on Friday, April 5th. Bank of America boosted 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. Finally, Citigroup boosted their price target on Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Krispy Kreme currently has a consensus rating of “Hold” and an average target price of $16.31.

Insider Buying and Selling

In related 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 value of $1,282,000.00. Following the sale, the director now owns 2,936,940 shares in the company, valued at approximately $37,651,570.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.30% of the stock is currently owned by company insiders.

Krispy Kreme Stock Down 3.3 %

DNUT stock opened at $11.31 on Friday. Krispy Kreme, Inc. has a fifty-two week low of $11.22 and a fifty-two week high of $17.84. The business’s 50 day moving average price is $13.31 and its two-hundred day moving average price is $13.44. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 0.36. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of -41.89, a price-to-earnings-growth ratio of 2.15 and a beta of 1.52.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $442.70 million for the quarter, compared to the consensus estimate of $433.87 million. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. As a group, analysts forecast that Krispy Kreme, Inc. will post 0.16 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a $0.035 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.14 annualized dividend and a dividend yield of 1.24%. Krispy Kreme’s payout ratio is currently -51.85%.

Krispy Kreme 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.