Squarepoint Ops LLC Raises Position in Krispy Kreme, Inc. $DNUT

Key Points

• Squarepoint Ops LLC increased its Krispy Kreme stake by 138.5% in the second quarter, ending with 566,309 shares valued at approximately $2 million. Institutional investors collectively own 81.72% of the company.
• Krispy Kreme reported quarterly revenue of $331 million, exceeding analyst expectations of $303.35 million, while matching the consensus loss of $0.03 per share. Revenue declined 12.8% year over year, and analysts expect a full-year loss of $0.06 per share.
• The stock opened at $3.20, near its 12-month low, while analyst sentiment remained cautious: the consensus rating was “Reduce,” with a $4.33 price target and several recent downgrades to “sell” or “strong sell.”

Squarepoint Ops LLC grew its stake in Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 138.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 566,309 shares of the company's stock after purchasing an additional 328,885 shares during the quarter. Squarepoint Ops LLC owned approximately 0.33% of Krispy Kreme worth $1,999,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Allworth Financial LP lifted its stake in Krispy Kreme by 83.7% during the 2nd quarter. Allworth Financial LP now owns 7,031 shares of the company's stock valued at $25,000 after acquiring an additional 3,204 shares in the last quarter. AXQ Capital LP raised its holdings in shares of Krispy Kreme by 44.5% in the second quarter. AXQ Capital LP now owns 22,600 shares of the company's stock valued at $80,000 after purchasing an additional 6,955 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of Krispy Kreme during the first quarter valued at about $35,000. Coastal Bridge Advisors LLC purchased a new position in Krispy Kreme during the second quarter worth about $37,000. Finally, R Squared Ltd grew its position in Krispy Kreme by 48.0% in the 1st quarter. R Squared Ltd now owns 34,012 shares of the company's stock worth $115,000 after purchasing an additional 11,029 shares in the last quarter. Institutional investors own 81.72% of the company's stock.

Krispy Kreme Price Performance

Shares of NASDAQ:DNUT opened at $3.20 on Tuesday. The firm has a market capitalization of $551.68 million, a PE ratio of -5.71 and a beta of 1.27. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $3.31 and a two-hundred day moving average price of $3.45. Krispy Kreme, Inc. has a twelve month low of $2.88 and a twelve month high of $5.11.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, meeting analysts' consensus estimates of ($0.03). The company had revenue of $331.00 million for the quarter, compared to analysts' expectations of $303.35 million. Krispy Kreme had a negative net margin of 6.16% and a negative return on equity of 1.17%. Krispy Kreme's revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. Equities analysts forecast that Krispy Kreme, Inc. will post -0.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Krispy Kreme from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings lowered Krispy Kreme from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday. Zacks Research downgraded Krispy Kreme from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. Finally, Evercore set a $4.00 target price on Krispy Kreme in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $4.33.

About Krispy Kreme

Krispy Kreme, Inc is a global doughnut and coffee company best known for its Original Glazed doughnuts. The company operates and franchises doughnut shops, cafés and other retail locations, while also distributing its products through grocery stores, convenience stores and other points of access. Its offerings generally include doughnuts, coffee and other beverages, as well as assorted baked goods and seasonal products.

Founded in Winston-Salem, North Carolina, in 1937 by Vernon Rudolph, Krispy Kreme has expanded from a regional doughnut maker into an international brand.

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