Krispy Kreme, Inc. (DNUT) To Go Ex-Dividend on July 24th

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Wednesday, July 24th will be given a dividend of 0.035 per share on Wednesday, August 7th. This represents a $0.14 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Wednesday, July 24th.

Krispy Kreme has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of DNUT stock traded up $0.11 during trading hours on Thursday, hitting $12.60. The company had a trading volume of 313,676 shares, compared to its average volume of 2,328,926. Krispy Kreme has a 12 month low of $11.52 and a 12 month high of $17.84. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -57.23, a PEG ratio of 2.47 and a beta of 1.52. The firm’s fifty day moving average is $13.45 and its 200 day moving average is $13.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.26 and a current ratio of 0.33.

Krispy Kreme (NASDAQ:DNUT) last posted 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 positive return on equity of 2.02% and a negative net margin of 2.25%. The firm had revenue of $450.90 million for the quarter, compared to analyst estimates of $438.95 million. During the same period in the prior year, the company posted $0.11 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Director Michael J. Tattersfield sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.00% 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.