AlpInvest Partners B.V. Invests $2.23 Million in Krispy Kreme, Inc. $DNUT

Key Points

• AlpInvest Partners purchased 631,987 Krispy Kreme shares worth approximately $2.23 million, giving it a 0.37% stake and making DNUT its seventh-largest portfolio holding. Institutional investors collectively own 81.72% of the company.
• Analyst sentiment remains negative: Krispy Kreme has a consensus rating of “Reduce”, with two Buy ratings and four Sell ratings and an average price target of $4.33.
• DNUT shares opened at $3.24, while the latest quarter showed a $0.03-per-share loss and revenue of $331 million—above estimates but down 12.8% year over year. Insiders have recently bought 880,190 shares valued at nearly $3 million.

AlpInvest Partners B.V. purchased a new stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 631,987 shares of the company's stock, valued at approximately $2,231,000. Krispy Kreme comprises approximately 3.7% of AlpInvest Partners B.V.'s portfolio, making the stock its 7th biggest position. AlpInvest Partners B.V. owned about 0.37% of Krispy Kreme at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Krispy Kreme during the 2nd quarter worth $23,353,000. Federated Hermes Inc. raised its position in Krispy Kreme by 42.4% during the fourth quarter. Federated Hermes Inc. now owns 3,565,152 shares of the company's stock valued at $14,332,000 after purchasing an additional 1,061,308 shares in the last quarter. Marshall Wace LLP purchased a new stake in Krispy Kreme during the third quarter valued at about $11,704,000. Balyasny Asset Management L.P. boosted its holdings in shares of Krispy Kreme by 419.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,795,546 shares of the company's stock worth $10,819,000 after purchasing an additional 2,257,061 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Krispy Kreme by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 2,231,100 shares of the company's stock worth $8,971,000 after purchasing an additional 153,645 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company's stock.

Insider Activity

In other Krispy Kreme news, Director Bernardo Hees purchased 235,875 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $3.39 per share, with a total value of $799,616.25. Following the transaction, the director directly owned 1,229,037 shares in the company, valued at approximately $4,166,435.43. The trade was a 23.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 880,190 shares of company stock valued at $2,973,833. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DNUT. Weiss Ratings cut Krispy Kreme from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, August 11th. Zacks Research lowered shares of Krispy Kreme from a "hold" rating to a "strong sell" rating in a report on Thursday, August 6th. Wall Street Zen cut shares of Krispy Kreme from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Evercore set a $4.00 target price on shares of Krispy Kreme in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Sell rating to the stock. According to MarketBeat, Krispy Kreme currently has a consensus rating of "Reduce" and a consensus price target of $4.33.

Krispy Kreme Trading Up 1.3%

Shares of DNUT opened at $3.24 on Wednesday. The firm has a market capitalization of $558.58 million, a price-to-earnings ratio of -5.79 and a beta of 1.27. The firm's 50-day moving average price is $3.42 and its 200-day moving average price is $3.41. Krispy Kreme, Inc. has a 1-year low of $2.88 and a 1-year high of $5.11. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 1.28.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.03). Krispy Kreme had a negative return on equity of 1.17% and a negative net margin of 6.16%.The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $303.35 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The firm's quarterly revenue was down 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Krispy Kreme, Inc. will post -0.07 EPS for the current year.

Krispy Kreme Profile

Krispy Kreme Doughnuts, Inc NASDAQ: DNUT is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.

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