Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report) has received an average rating of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $8.89.

DNUT has been the topic of a number of research reports. Citigroup reduced their price objective on Krispy Kreme from $4.75 to $3.60 and set a "neutral" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Krispy Kreme in a research report on Wednesday, May 14th. Truist Financial lowered Krispy Kreme from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley reduced their price target on Krispy Kreme from $3.00 to $2.50 and set an "overweight" rating on the stock in a research report on Monday, July 14th. Finally, Bank of America reduced their price target on Krispy Kreme from $7.00 to $6.00 and set a "buy" rating on the stock in a research report on Friday.

Krispy Kreme Trading Up 0.6%

Shares of DNUT stock opened at $3.13 on Friday. The firm has a market capitalization of $534.17 million, a P/E ratio of -24.08 and a beta of 1.29. Krispy Kreme has a twelve month low of $2.50 and a twelve month high of $12.68. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.83. The stock's fifty day simple moving average is $2.98 and its 200 day simple moving average is $5.34.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.05). The business had revenue of $375.18 million for the quarter, compared to analyst estimates of $383.97 million. Krispy Kreme had a negative return on equity of 2.13% and a negative net margin of 1.36%. Krispy Kreme's quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. As a group, sell-side analysts predict that Krispy Kreme will post 0.07 EPS for the current fiscal year.

Insider Activity at Krispy Kreme

In related news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the company's 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 sale, the insider owned 74,190,990 shares in the company, valued at $320,505,076.80. This represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Krispy Kreme

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Krispy Kreme by 1,440.9% during the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company's stock valued at $46,000 after purchasing an additional 8,732 shares in the last quarter. Spartan Fund Management Inc. boosted its holdings in Krispy Kreme by 150.0% in the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company's stock worth $50,000 after acquiring an additional 3,000 shares in the last quarter. Malaga Cove Capital LLC bought a new position in Krispy Kreme in the first quarter worth approximately $51,000. Teacher Retirement System of Texas bought a new position in Krispy Kreme in the first quarter worth approximately $61,000. Finally, AFG Fiduciary Services Limited Partnership bought a new position in Krispy Kreme in the second quarter worth approximately $81,000. Institutional investors own 81.72% of the company's stock.

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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