Krispy Kreme (NASDAQ:DNUT) Receives Buy Rating from Truist Financial

Truist Financial reissued their buy rating on shares of Krispy Kreme (NASDAQ:DNUT) in a report published on Wednesday morning,Benzinga reports. Truist Financial currently has a $12.00 price objective on the stock, down from their previous price objective of $15.00.

Several other research firms also recently issued reports on DNUT. Morgan Stanley downgraded shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $12.00 to $6.00 in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Piper Sandler cut their price target on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Krispy Kreme currently has an average rating of “Moderate Buy” and an average price target of $13.13.

Krispy Kreme Price Performance

Shares of Krispy Kreme stock opened at $5.97 on Wednesday. The company has a 50-day simple moving average of $9.04 and a two-hundred day simple moving average of $10.37. Krispy Kreme has a twelve month low of $5.95 and a twelve month high of $17.84. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The firm had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. During the same period last year, the business earned $0.09 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. Analysts forecast that Krispy Kreme will post 0.07 EPS for the current year.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

Institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. lifted its position in Krispy Kreme by 86.1% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 216,559 shares of the company’s stock worth $2,326,000 after buying an additional 100,163 shares during the last quarter. Paloma Partners Management Co raised its stake in shares of Krispy Kreme by 6,993.4% during the third quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock worth $9,366,000 after acquiring an additional 859,774 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Krispy Kreme in the 3rd quarter worth approximately $810,000. Holocene Advisors LP purchased a new stake in shares of Krispy Kreme in the 3rd quarter valued at $1,716,000. Finally, Barclays PLC grew its holdings in shares of Krispy Kreme by 450.6% during the 3rd quarter. Barclays PLC now owns 169,209 shares of the company’s stock valued at $1,816,000 after purchasing an additional 138,475 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors.

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.