Krispy Kreme (NASDAQ:DNUT) Stock Price Up 5.2% – Here’s What Happened

Krispy Kreme, Inc. (NASDAQ:DNUT) shot up 5.2% during mid-day trading on Friday . The stock traded as high as $6.15 and last traded at $6.14. 638,145 shares were traded during trading, a decline of 77% from the average session volume of 2,805,773 shares. The stock had previously closed at $5.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DNUT shares. Piper Sandler decreased their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley lowered Krispy Kreme from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $12.00 to $6.00 in a research report on Wednesday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.13.

Krispy Kreme Stock Performance

The company has a 50-day moving average of $8.61 and a 200-day moving average of $10.19. The company has a market cap of $1.05 billion, a PE ratio of 36.32, a PEG ratio of 3.24 and a beta of 1.40. 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 the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The firm had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. During the same quarter in the previous year, the company earned $0.09 EPS. The business’s revenue was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is presently 700.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in Krispy Kreme during the 4th quarter valued at $152,305,000. Bamco Inc. NY grew its position in shares of Krispy Kreme by 24.7% in the fourth quarter. Bamco Inc. NY now owns 13,069,717 shares of the company’s stock valued at $129,782,000 after purchasing an additional 2,588,398 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of Krispy Kreme by 43.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company’s stock valued at $72,139,000 after purchasing an additional 2,186,136 shares during the period. Banco Santander S.A. lifted its holdings in Krispy Kreme by 0.3% during the 3rd quarter. Banco Santander S.A. now owns 6,916,972 shares of the company’s stock worth $74,288,000 after purchasing an additional 21,723 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Krispy Kreme by 8.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,191,111 shares of the company’s stock worth $41,614,000 after purchasing an additional 333,764 shares in the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.