Krispy Kreme (NASDAQ:DNUT) Trading 4.7% Higher – Time to Buy?

Krispy Kreme, Inc. (NASDAQ:DNUT) shares shot up 4.7% during trading on Tuesday . The stock traded as high as $5.67 and last traded at $5.67. 2,089,473 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 2,408,707 shares. The stock had previously closed at $5.41.

Wall Street Analyst Weigh In

Several research firms have issued reports on DNUT. Truist Financial reaffirmed a “buy” rating and issued a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Finally, Piper Sandler cut their target price 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. One research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.13.

Krispy Kreme Trading Up 5.6 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The firm has a market cap of $973.26 million, a PE ratio of 33.50, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40. The company’s 50 day moving average price is $8.03 and its 200 day moving average price is $9.91.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly 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). The business had revenue of $404.00 million during 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 revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, analysts forecast that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The business 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 $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently 700.00%.

Institutional Trading of Krispy Kreme

Several hedge funds have recently added to or reduced their stakes in DNUT. Edgestream Partners L.P. grew its holdings in Krispy Kreme by 158.9% during the 4th quarter. Edgestream Partners L.P. now owns 130,995 shares of the company’s stock worth $1,301,000 after acquiring an additional 80,394 shares in the last quarter. Landscape Capital Management L.L.C. lifted its position in shares of Krispy Kreme by 86.1% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 216,559 shares of the company’s stock worth $2,326,000 after buying an additional 100,163 shares during the last quarter. Paloma Partners Management Co increased its position in shares of Krispy Kreme by 6,993.4% during the third quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock worth $9,366,000 after purchasing an additional 859,774 shares in the last quarter. Rhumbline Advisers lifted its stake in Krispy Kreme by 2.2% in the fourth quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock valued at $1,182,000 after buying an additional 2,532 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Krispy Kreme in the third quarter valued at $810,000. 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.