Federated Hermes Inc. Buys New Holdings in Krispy Kreme, Inc. (NASDAQ:DNUT)

Key Points

• Federated Hermes Inc. has invested approximately $8.27 million in Krispy Kreme, acquiring 1,681,133 shares, which represents about 0.99% of the company's stock.
• Multiple institutional investors have modified their positions in Krispy Kreme, with major transactions occurring during the fourth quarter, leading to a total of 81.72% institutional ownership of the company.
• Analysts have recently adjusted their ratings for Krispy Kreme, with Citigroup and BNP Paribas lowering the target price and ratings, while the consensus rating remains a "Hold" with a price target of $7.58.

Federated Hermes Inc. purchased a new stake in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,681,133 shares of the company's stock, valued at approximately $8,271,000. Federated Hermes Inc. owned approximately 0.99% of Krispy Kreme as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC grew its position in Krispy Kreme by 1,440.9% during the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company's stock worth $46,000 after purchasing an additional 8,732 shares during the last quarter. Spartan Fund Management Inc. grew its position in Krispy Kreme by 150.0% during the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company's stock worth $50,000 after purchasing an additional 3,000 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in Krispy Kreme during the 1st quarter worth approximately $61,000. Corton Capital Inc. purchased a new stake in Krispy Kreme during the 1st quarter worth approximately $109,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Krispy Kreme in the 4th quarter valued at $128,000. Institutional investors own 81.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DNUT shares. Morgan Stanley dropped their price objective on shares of Krispy Kreme from $3.00 to $2.50 and set an "overweight" rating on the stock in a report on Monday, July 14th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Krispy Kreme in a research note on Wednesday, May 14th. BNP Paribas upgraded shares of Krispy Kreme to a "hold" rating in a research note on Monday, July 21st. BNP Paribas Exane cut shares of Krispy Kreme from an "outperform" rating to a "neutral" rating and set a $3.50 target price for the company. in a research note on Monday, July 21st. Finally, 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 report on Friday, July 18th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7.58.

Krispy Kreme Price Performance

Shares of Krispy Kreme stock traded down $0.01 during trading hours on Tuesday, reaching $3.64. 3,191,383 shares of the company's stock were exchanged, compared to its average volume of 5,540,838. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.83. Krispy Kreme, Inc. has a 1 year low of $2.50 and a 1 year high of $12.68. The business has a fifty day moving average of $3.16 and a two-hundred day moving average of $4.87. The company has a market capitalization of $621.20 million, a P/E ratio of -28.00 and a beta of 1.32.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). The firm had revenue of $375.18 million during the quarter, compared to analyst estimates of $383.97 million. Krispy Kreme had a negative net margin of 1.36% and a negative return on equity of 2.13%. Krispy Kreme's quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, research analysts predict that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme 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.