Krispy Kreme (NASDAQ:DNUT) Price Target Raised to $4.80

Krispy Kreme (NASDAQ:DNUT) had its price objective hoisted by equities researchers at Citigroup from $4.00 to $4.80 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s price target indicates a potential upside of 18.08% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Krispy Kreme from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 27th. Weiss Ratings lowered shares of Krispy Kreme from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. Wall Street Zen upgraded shares of Krispy Kreme from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Evercore set a $4.00 price target on Krispy Kreme in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Krispy Kreme has a consensus rating of “Reduce” and an average price target of $4.45.

Krispy Kreme Stock Down 2.5%

Shares of NASDAQ:DNUT traded down $0.10 during midday trading on Monday, reaching $4.07. The company’s stock had a trading volume of 1,546,272 shares, compared to its average volume of 2,705,200. The firm has a 50 day moving average of $3.14 and a 200-day moving average of $3.34. The firm has a market capitalization of $700.81 million, a P/E ratio of -7.67 and a beta of 1.29. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 1.28. Krispy Kreme has a 12-month low of $2.81 and a 12-month high of $5.03.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Krispy Kreme had a negative net margin of 5.94% and a negative return on equity of 0.28%. The company had revenue of $328.76 million during the quarter, compared to analysts’ expectations of $311.41 million. During the same period last year, the company posted $0.01 EPS. Krispy Kreme’s revenue was down 12.4% on a year-over-year basis. On average, research analysts anticipate that Krispy Kreme will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Krispy Kreme

Several large investors have recently modified their holdings of the stock. Ground Swell Capital LLC bought a new position in Krispy Kreme in the 3rd quarter worth about $32,000. Russell Investments Group Ltd. grew its position in Krispy Kreme by 112.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 273,184 shares of the company’s stock valued at $784,000 after purchasing an additional 144,653 shares during the last quarter. State of Wyoming increased its stake in Krispy Kreme by 120.4% during the 3rd quarter. State of Wyoming now owns 83,571 shares of the company’s stock valued at $240,000 after purchasing an additional 45,655 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Krispy Kreme during the 3rd quarter valued at about $27,000. Finally, Sequoia Financial Advisors LLC bought a new stake in Krispy Kreme during the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Krispy Kreme Company Profile

Krispy Kreme, Inc is a global doughnut and coffee company best known for its Original Glazed doughnuts. The company sells doughnuts, packaged sweets, coffee and other beverages through Krispy Kreme shops, in-store retail displays and digital ordering channels.

Krispy Kreme operates a hub-and-spoke distribution model that combines doughnut-making hubs and shops with delivery to grocery stores, convenience stores and other retail locations. Its products are also distributed through partnerships and branded locations, allowing the company to expand its reach beyond traditional Krispy Kreme shops.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown into an international brand serving customers in the United States and various markets across North America, Europe, Asia and Oceania.