Krispy Kreme (NASDAQ:DNUT) Raised to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Krispy Kreme (NASDAQ:DNUT) from a hold rating to a strong-buy rating in a report issued on Tuesday morning, Zacks.com reports.

DNUT has been the subject of a number of other reports. 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 report on Wednesday, March 27th. Bank of America reduced their price objective on shares of Krispy Kreme from $19.00 to $16.00 and set a buy rating for the company in a report on Wednesday, July 17th. Truist Financial raised shares of Krispy Kreme from a hold rating to a buy rating and raised their price objective for the stock from $13.00 to $15.00 in a report on Monday, June 10th. Piper Sandler raised shares of Krispy Kreme from a neutral rating to an overweight rating and raised their price objective for the stock from $14.00 to $20.00 in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. started coverage on shares of Krispy Kreme in a report on Monday, June 3rd. They set an overweight rating and a $14.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $16.25.

Krispy Kreme Price Performance

Shares of Krispy Kreme stock opened at $10.84 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. Krispy Kreme has a fifty-two week low of $9.70 and a fifty-two week high of $17.84. The firm has a fifty day moving average price of $10.91 and a two-hundred day moving average price of $12.52. The company has a market cap of $1.83 billion, a PE ratio of -40.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.

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

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.29%. The ex-dividend date is Wednesday, July 24th. Krispy Kreme’s payout ratio is presently -51.85%.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY increased 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 valued at $148,305,000 after acquiring an additional 246,600 shares in the last quarter. Vanguard Group Inc. increased its position in Krispy Kreme by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock valued at $130,237,000 after acquiring an additional 67,130 shares in the last quarter. Hsbc Holdings PLC increased its position in Krispy Kreme by 157.1% in the 4th quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock valued at $106,130,000 after acquiring an additional 4,263,574 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Krispy Kreme by 25.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company’s stock valued at $34,971,000 after acquiring an additional 469,379 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Krispy Kreme by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 665,957 shares of the company’s stock worth $10,049,000 after buying an additional 7,745 shares during the period. Institutional investors and hedge funds 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.