703,138 Shares in Krispy Kreme, Inc. $DNUT Bought by Clearline Capital LP

Key Points

• Clearline Capital LP has made a new investment in Krispy Kreme, acquiring approximately $3.46 million worth of shares, amounting to about 0.41% ownership of the company.
• Other institutional investors, such as Millennium Management and Banque Transatlantique, have also significantly changed their stakes in Krispy Kreme, indicating growing interest in the company.
• Krispy Kreme reported a net loss of $0.15 EPS for the last quarter, which missed analysts' expectations, and its revenue was down 13.5% compared to the previous year.

Clearline Capital LP acquired a new stake in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 703,138 shares of the company's stock, valued at approximately $3,459,000. Clearline Capital LP owned approximately 0.41% of Krispy Kreme at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in DNUT. Price T Rowe Associates Inc. MD boosted its holdings in Krispy Kreme by 17.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,087 shares of the company's stock valued at $329,000 after purchasing an additional 5,032 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Krispy Kreme by 5.6% in the fourth quarter. Northern Trust Corp now owns 750,603 shares of the company's stock valued at $7,453,000 after purchasing an additional 40,063 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Krispy Kreme in the fourth quarter valued at about $128,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Krispy Kreme in the fourth quarter valued at about $535,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Krispy Kreme by 138.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 165,400 shares of the company's stock valued at $1,642,000 after purchasing an additional 96,126 shares during the period. Hedge funds and other institutional investors own 81.72% of the company's stock.

Krispy Kreme Trading Up 5.0%

Shares of NASDAQ:DNUT traded up $0.15 during trading on Thursday, reaching $3.15. The stock had a trading volume of 2,765,011 shares, compared to its average volume of 5,318,832. Krispy Kreme, Inc. has a fifty-two week low of $2.50 and a fifty-two week high of $12.68. The business has a fifty day moving average price of $3.48 and a 200-day moving average price of $3.91. The stock has a market cap of $539.28 million, a P/E ratio of -1.19 and a beta of 1.32. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 1.24.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.10). The firm had revenue of $379.77 million for the quarter, compared to analyst estimates of $382.25 million. Krispy Kreme had a negative return on equity of 5.55% and a negative net margin of 29.33%.The company's quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. As a group, analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on DNUT shares. JPMorgan Chase & Co. reiterated an "underweight" rating on shares of Krispy Kreme in a research note on Wednesday, August 27th. Morgan Stanley reduced their price objective on shares of Krispy Kreme from $3.00 to $2.50 and set an "overweight" rating for the company in a research note on Monday, July 14th. BNP Paribas Exane cut shares of Krispy Kreme from an "outperform" rating to a "neutral" rating and set a $3.50 price objective for the company. in a research note on Monday, July 21st. Bank of America reduced their price objective on shares of Krispy Kreme from $7.00 to $6.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Finally, Zacks Research cut shares of Krispy Kreme from a "hold" rating to a "strong sell" rating in a research note on Monday, August 25th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.80.

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.