SG Americas Securities LLC Lowers Stock Holdings in Krispy Kreme, Inc. $DNUT

Key Points

• SG Americas Securities LLC cut its stake in Krispy Kreme by 40.3% in Q4, selling 483,618 shares and leaving 715,934 shares (about 0.42% of the company) worth roughly $2.88 million.
• Krispy Kreme beat quarterly estimates with EPS of $0.09 vs. $0.03 expected, but remains unprofitable overall with a negative net margin of 33.87% and revenue down 2.9% year-over-year.
• Shares trade near $3.40 (market cap ~$585M), institutional investors own 81.72% of the stock, and analysts' consensus is a “Hold” with a $4.85 price target.

SG Americas Securities LLC lessened its position in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 715,934 shares of the company's stock after selling 483,618 shares during the quarter. SG Americas Securities LLC owned approximately 0.42% of Krispy Kreme worth $2,878,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DNUT. Federated Hermes Inc. grew its position in Krispy Kreme by 78.9% in the 2nd quarter. Federated Hermes Inc. now owns 3,007,345 shares of the company's stock valued at $8,751,000 after acquiring an additional 1,326,212 shares in the last quarter. Divisadero Street Capital Management LP boosted its stake in shares of Krispy Kreme by 117.9% in the third quarter. Divisadero Street Capital Management LP now owns 1,089,341 shares of the company's stock valued at $4,216,000 after purchasing an additional 589,341 shares during the period. Diametric Capital LP acquired a new position in shares of Krispy Kreme in the second quarter valued at approximately $121,000. Keel Point LLC acquired a new position in shares of Krispy Kreme in the third quarter valued at approximately $102,000. Finally, R Squared Ltd increased its stake in Krispy Kreme by 33.4% during the 3rd quarter. R Squared Ltd now owns 14,216 shares of the company's stock worth $55,000 after buying an additional 3,556 shares during the period. Institutional investors and hedge funds own 81.72% of the company's stock.

Krispy Kreme Price Performance

Shares of DNUT opened at $3.40 on Friday. The firm has a market capitalization of $585.48 million, a price-to-earnings ratio of -1.12 and a beta of 1.27. The firm's fifty day simple moving average is $3.29 and its 200-day simple moving average is $3.68. Krispy Kreme, Inc. has a twelve month low of $2.50 and a twelve month high of $5.73. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 1.40.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. Krispy Kreme had a negative net margin of 33.87% and a negative return on equity of 3.66%. The firm had revenue of $392.37 million during the quarter, compared to the consensus estimate of $386.72 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The company's revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on DNUT shares. Weiss Ratings reissued a "sell (d)" rating on shares of Krispy Kreme in a research report on Friday, March 27th. Capital One Financial upgraded Krispy Kreme from an "equal weight" rating to an "overweight" rating and set a $6.00 price objective on the stock in a research note on Thursday, March 26th. Morgan Stanley reiterated an "underweight" rating and issued a $3.00 target price on shares of Krispy Kreme in a report on Tuesday, January 20th. Zacks Research upgraded Krispy Kreme from a "hold" rating to a "strong-buy" rating in a report on Friday, March 27th. Finally, Wall Street Zen raised Krispy Kreme from a "sell" rating to a "hold" rating in a research report on Sunday, February 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $4.85.

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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