Pacific Point Advisors LLC Purchases Shares of 117,064 Krispy Kreme, Inc. $DNUT

Key Points

• Pacific Point Advisors LLC acquired 117,064 shares of Krispy Kreme, valued at approximately $341,000, during the 2nd quarter, representing about 0.07% of the company.
• Institutional investors currently own 81.72% of Krispy Kreme's stock, with notable increases in positions from firms like Vanguard Group and SG Americas Securities LLC.
• Krispy Kreme's stock experienced fluctuations, with a 12-month low of $2.50 and a 12-month high of $12.68, while the recent quarterly earnings report revealed a disappointing earnings per share of ($0.15).

Pacific Point Advisors LLC purchased a new position in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 117,064 shares of the company's stock, valued at approximately $341,000. Pacific Point Advisors LLC owned approximately 0.07% of Krispy Kreme as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DNUT. Vanguard Group Inc. increased its holdings in shares of Krispy Kreme by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,867,100 shares of the company's stock worth $43,626,000 after purchasing an additional 233,234 shares during the last quarter. SG Americas Securities LLC increased its stake in Krispy Kreme by 275.1% in the 1st quarter. SG Americas Securities LLC now owns 314,630 shares of the company's stock worth $1,548,000 after acquiring an additional 230,761 shares during the last quarter. Nuveen LLC bought a new stake in Krispy Kreme in the 1st quarter worth approximately $1,126,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Krispy Kreme during the 2nd quarter worth approximately $333,000. Finally, Quantbot Technologies LP boosted its position in shares of Krispy Kreme by 365.7% during the 1st quarter. Quantbot Technologies LP now owns 303,290 shares of the company's stock valued at $1,492,000 after acquiring an additional 238,171 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company's stock.

Krispy Kreme Price Performance

Krispy Kreme stock opened at $3.87 on Wednesday. Krispy Kreme, Inc. has a 12-month low of $2.50 and a 12-month high of $12.68. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $3.49 and a 200-day moving average price of $3.62. The firm has a market capitalization of $662.54 million, a PE ratio of -1.46 and a beta of 1.32.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on DNUT. BNP Paribas Exane lowered shares of Krispy Kreme from an "outperform" rating to a "neutral" rating and set a $3.50 target price for the company. in a report on Monday, July 21st. Morgan Stanley dropped 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. JPMorgan Chase & Co. restated an "underweight" rating on shares of Krispy Kreme in a report on Wednesday, August 27th. Zacks Research cut shares of Krispy Kreme from a "hold" rating to a "strong sell" rating in a research report on Monday, August 25th. Finally, Bank of America dropped their price target on Krispy Kreme from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Three investment 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.

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