Krispy Kreme (NASDAQ:DNUT) Shares Up 6.3% – Time to Buy?

Krispy Kreme, Inc. (NASDAQ:DNUT) shares shot up 6.3% during trading on Thursday . The stock traded as high as $6.39 and last traded at $6.35. 4,800,603 shares changed hands during mid-day trading, an increase of 89% from the average session volume of 2,541,822 shares. The stock had previously closed at $5.97.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DNUT shares. Morgan Stanley cut Krispy Kreme from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $12.00 to $6.00 in a research note on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Piper Sandler decreased their target price on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Krispy Kreme Trading Up 3.9 %

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34. The business’s fifty day moving average is $9.04 and its 200 day moving average is $10.37. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The company had revenue of $404.00 million for the quarter, compared to analyst estimates of $413.18 million. Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. Equities analysts predict that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

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 given a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 2.26%. Krispy Kreme’s dividend payout ratio (DPR) is currently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

Institutional investors and hedge funds have recently made changes to their positions in the business. Spartan Fund Management Inc. lifted its stake in Krispy Kreme by 150.0% in the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after buying an additional 3,000 shares during the period. Point72 DIFC Ltd bought a new stake in Krispy Kreme in the third quarter valued at $51,000. Central Pacific Bank Trust Division acquired a new position in shares of Krispy Kreme during the fourth quarter valued at about $71,000. Blue Trust Inc. boosted its position in shares of Krispy Kreme by 28.3% during the 3rd 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 stake in Krispy Kreme in the 4th quarter valued at about $111,000. Institutional investors own 81.72% 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.