Brokerages Set Krispy Kreme, Inc. (NASDAQ:DNUT) Target Price at $10.58

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) have been assigned a consensus rating of "Hold" from the nine research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $10.58.

A number of brokerages recently issued reports on DNUT. JPMorgan Chase & Co. restated a "neutral" rating on shares of Krispy Kreme in a report on Wednesday, May 14th. Truist Financial cut shares of Krispy Kreme from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Citigroup cut their price target on shares of Krispy Kreme from $4.75 to $3.60 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Piper Sandler cut their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $12.00 to $6.00 in a research note on Wednesday, February 26th.

Krispy Kreme Trading Down 1.0%

Shares of NASDAQ:DNUT traded down $0.03 during trading on Friday, hitting $2.90. 2,085,140 shares of the company's stock were exchanged, compared to its average volume of 2,647,427. Krispy Kreme has a 1-year low of $2.58 and a 1-year high of $12.68. The firm has a 50-day moving average price of $3.94 and a two-hundred day moving average price of $7.13. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The firm has a market cap of $494.91 million, a P/E ratio of 17.06, a PEG ratio of 3.24 and a beta of 1.49.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $375.18 million during the quarter, compared to analysts' expectations of $383.97 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. Krispy Kreme's revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. Equities analysts predict that Krispy Kreme 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 the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $4.32, for a total value of $3,000,002.40. Following the completion of the transaction, the insider now owns 74,190,990 shares of the company's stock, valued at approximately $320,505,076.80. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.30% of the company's stock.

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds have recently modified their holdings of DNUT. GAMMA Investing LLC lifted its holdings in shares of Krispy Kreme by 1,440.9% during the first 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 period. Spartan Fund Management Inc. lifted its holdings 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 worth $50,000 after purchasing an additional 3,000 shares during the period. Malaga Cove Capital LLC acquired a new position in shares of Krispy Kreme during the first quarter worth $51,000. Teacher Retirement System of Texas acquired a new position in shares of Krispy Kreme during the first quarter worth $61,000. Finally, Vident Advisory LLC lifted its holdings in shares of Krispy Kreme by 45.1% during the first quarter. Vident Advisory LLC now owns 20,720 shares of the company's stock worth $102,000 after purchasing an additional 6,444 shares during the period. Institutional investors and hedge funds own 81.72% of the company's stock.

Krispy Kreme Company 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.