Krispy Kreme (NASDAQ:DNUT) Hits New 12-Month Low at $9.73

Krispy Kreme, Inc. (NASDAQ:DNUT) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $9.73 and last traded at $9.74, with a volume of 1901629 shares changing hands. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on 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 report on Wednesday, March 27th. Bank of America lifted their price objective on shares of Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Truist Financial raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and increased their target price for the company from $13.00 to $15.00 in a research report on Monday, June 10th. JPMorgan Chase & Co. started coverage on shares of Krispy Kreme in a report on Monday, June 3rd. They issued an “overweight” rating and a $14.00 price target on the stock. Finally, Piper Sandler raised Krispy Kreme from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $14.00 to $20.00 in a report on Friday, April 5th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.69.

Krispy Kreme Price Performance

The stock has a market capitalization of $1.73 billion, a P/E ratio of -38.00, a price-to-earnings-growth ratio of 1.87 and a beta of 1.41. 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 firm has a 50-day moving average price of $11.22 and a 200 day moving average price of $12.79.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. The firm had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $433.87 million. On average, analysts expect that Krispy Kreme, Inc. will post 0.16 EPS for the current year.

Krispy Kreme Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 1.36%. Krispy Kreme’s dividend payout ratio is currently -51.85%.

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in Krispy Kreme by 157.1% during the 4th quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock valued at $106,130,000 after purchasing an additional 4,263,574 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Krispy Kreme by 25.7% during the third quarter. Vanguard Group Inc. now owns 8,423,196 shares of the company’s stock valued at $105,037,000 after buying an additional 1,721,287 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Krispy Kreme by 25.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company’s stock valued at $34,971,000 after buying an additional 469,379 shares during the last quarter. Carlyle Group Inc. bought a new stake in Krispy Kreme in the 1st quarter worth about $5,191,000. Finally, Bamco Inc. NY raised its position in Krispy Kreme by 2.6% in the 1st quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock worth $148,305,000 after buying an additional 246,600 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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.