Point72 Asset Management L.P. Has $1.68 Million Stake in Krispy Kreme, Inc. (NASDAQ:DNUT)

Point72 Asset Management L.P. raised its stake in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 339.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 168,820 shares of the company's stock after buying an additional 130,374 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.10% of Krispy Kreme worth $1,676,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB lifted its stake in Krispy Kreme by 4.4% in the fourth quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company's stock valued at $306,000 after buying an additional 1,300 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Krispy Kreme by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company's stock valued at $483,000 after purchasing an additional 1,707 shares in the last quarter. Swiss National Bank raised its stake in shares of Krispy Kreme by 1.3% during the fourth quarter. Swiss National Bank now owns 166,800 shares of the company's stock valued at $1,656,000 after purchasing an additional 2,100 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Krispy Kreme by 2.2% during the fourth quarter. Rhumbline Advisers now owns 119,083 shares of the company's stock valued at $1,182,000 after purchasing an additional 2,532 shares in the last quarter. Finally, Spartan Fund Management Inc. raised its stake in shares of Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company's stock valued at $50,000 after purchasing an additional 3,000 shares in the last quarter. 81.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DNUT has been the topic of a number of recent analyst reports. Truist Financial cut shares of Krispy Kreme from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Krispy Kreme in a report on Wednesday, May 14th. Piper Sandler lowered their target price on Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley lowered Krispy Kreme from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $12.00 to $6.00 in a report on Wednesday, February 26th. 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 report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Krispy Kreme currently has a consensus rating of "Hold" and an average target price of $10.58.

Krispy Kreme Trading Up 3.6%

DNUT traded up $0.11 during trading on Tuesday, reaching $3.02. The company had a trading volume of 1,304,511 shares, compared to its average volume of 2,644,502. The firm's 50-day simple moving average is $4.15 and its 200 day simple moving average is $7.30. The company has a market cap of $514.53 million, a price-to-earnings ratio of 17.74, a PEG ratio of 3.24 and a beta of 1.49. Krispy Kreme, Inc. has a 12-month low of $2.58 and a 12-month high of $12.68. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The firm had revenue of $375.18 million during the quarter, compared to analyst estimates of $383.97 million. During the same period last year, the company posted $0.07 EPS. The business's quarterly revenue was down 15.2% compared to the same quarter last year. Equities research analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of Krispy Kreme stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $4.32, for a total transaction of $3,000,002.40. Following the completion of the sale, the insider now directly owns 74,190,990 shares in the company, valued at $320,505,076.80. The trade was a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.30% of the company's stock.

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.