Krispy Kreme (NASDAQ:DNUT) Price Target Cut to $12.00 by Analysts at Piper Sandler

Krispy Kreme (NASDAQ:DNUT) had its target price trimmed by Piper Sandler from $18.00 to $12.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued reports about the company. Morgan Stanley lowered Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $12.00 to $6.00 in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One investment 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.13.

Krispy Kreme Price Performance

Shares of NASDAQ DNUT opened at $5.97 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. The firm’s 50-day simple moving average is $9.04 and its 200 day simple moving average is $10.37. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 3.24 and a beta of 1.34. Krispy Kreme has a fifty-two week low of $5.95 and a fifty-two week high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $413.18 million. During the same quarter in the prior year, the company earned $0.09 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that Krispy Kreme will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s payout ratio is 82.35%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Krispy Kreme during the third quarter worth about $51,000. Spartan Fund Management Inc. raised its holdings in shares of Krispy Kreme by 150.0% in the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,000 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Krispy Kreme during the 4th quarter valued at about $71,000. Blue Trust Inc. grew its holdings in shares of Krispy Kreme by 28.3% during the third quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after purchasing an additional 1,779 shares in the last quarter. Finally, First Hawaiian Bank bought a new position in shares of Krispy Kreme in the fourth quarter worth approximately $111,000. 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.