Krispy Kreme (NASDAQ:DNUT - Get Free Report) had its price objective dropped by investment analysts at Bank of America from $7.00 to $6.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 92.00% from the stock's current price.
Other analysts have also issued research reports about the company. Truist Financial lowered Krispy Kreme from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Morgan Stanley cut their price objective on Krispy Kreme from $3.00 to $2.50 and set an "overweight" rating for the company in a report on Monday. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Krispy Kreme in a research report on Wednesday, May 14th. Finally, Citigroup lowered their target price on Krispy Kreme from $4.75 to $3.60 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.89.
Check Out Our Latest Analysis on DNUT
Krispy Kreme Stock Up 0.5%
DNUT stock traded up $0.02 on Friday, reaching $3.13. 195,473 shares of the company traded hands, compared to its average volume of 2,785,020. The company has a market cap of $533.31 million, a P/E ratio of -24.04 and a beta of 1.29. The firm has a fifty day simple moving average of $2.97 and a 200-day simple moving average of $5.39. Krispy Kreme has a one year low of $2.50 and a one year high of $12.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.35 and a quick ratio of 0.28.
Krispy Kreme (NASDAQ:DNUT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). The business had revenue of $375.18 million during the quarter, compared to analyst estimates of $383.97 million. Krispy Kreme had a negative return on equity of 2.13% and a negative net margin of 1.36%. The company's quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 EPS. Research analysts anticipate that Krispy Kreme will post 0.07 earnings per share for the current year.
Insider Activity at Krispy Kreme
In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the business's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $4.32, for a total value of $3,000,002.40. Following the transaction, the insider directly owned 74,190,990 shares in the company, valued at $320,505,076.80. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by insiders.
Hedge Funds Weigh In On Krispy Kreme
Large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Krispy Kreme by 1,440.9% in the first quarter. GAMMA Investing LLC now owns 9,338 shares of the company's stock worth $46,000 after buying an additional 8,732 shares in the last quarter. Spartan Fund Management Inc. increased its stake in Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company's stock worth $50,000 after acquiring an additional 3,000 shares during the last quarter. Malaga Cove Capital LLC bought a new stake in Krispy Kreme during the first quarter worth approximately $51,000. Teacher Retirement System of Texas bought a new stake in Krispy Kreme during the first quarter worth approximately $61,000. Finally, AFG Fiduciary Services Limited Partnership bought a new stake in Krispy Kreme during the second quarter worth approximately $81,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.
About Krispy Kreme
(
Get Free Report)
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.
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