Krispy Kreme (NASDAQ:DNUT) Downgraded by BNP Paribas Exane to "Neutral"

Krispy Kreme (NASDAQ:DNUT - Get Free Report) was downgraded by analysts at BNP Paribas Exane from an "outperform" rating to a "neutral" rating in a research note issued on Monday, MarketBeat.com reports. They currently have a $3.50 target price on the stock. BNP Paribas Exane's target price points to a potential upside of 11.82% from the company's current price.

A number of other equities research analysts also recently issued reports on the company. Morgan Stanley lowered their price target on Krispy Kreme from $3.00 to $2.50 and set an "overweight" rating for the company in a research report on Monday, July 14th. Bank of America lowered 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. Citigroup lowered their price target on Krispy Kreme from $4.75 to $3.60 and set a "neutral" rating for the company in a research report on Friday, May 9th. Truist Financial downgraded Krispy Kreme from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Krispy Kreme in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Krispy Kreme has an average rating of "Moderate Buy" and a consensus target price of $8.29.

Krispy Kreme Stock Performance

Krispy Kreme stock opened at $3.13 on Monday. The firm has a market capitalization of $534.17 million, a P/E ratio of -24.08 and a beta of 1.29. The stock has a fifty day moving average price of $2.98 and a 200 day moving average price of $5.28. Krispy Kreme has a 52 week low of $2.50 and a 52 week high of $12.68. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.83.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.05). Krispy Kreme had a negative return on equity of 2.13% and a negative net margin of 1.36%. The firm had revenue of $375.18 million during the quarter, compared to the consensus estimate of $383.97 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm's quarterly revenue was down 15.2% compared to the same quarter last year. Equities research analysts anticipate that Krispy Kreme will post 0.07 earnings per share for the current year.

Insider Buying and Selling at Krispy Kreme

In other 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 value of $3,000,002.40. Following the completion of the sale, the insider owned 74,190,990 shares of the company's stock, valued at $320,505,076.80. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNUT. Swiss National Bank boosted its holdings in Krispy Kreme by 1.3% in the fourth quarter. Swiss National Bank now owns 166,800 shares of the company's stock valued at $1,656,000 after purchasing an additional 2,100 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Krispy Kreme during the fourth quarter valued at approximately $647,000. Sei Investments Co. raised its stake in Krispy Kreme by 491.7% during the fourth quarter. Sei Investments Co. now owns 121,297 shares of the company's stock valued at $1,204,000 after buying an additional 100,796 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Krispy Kreme during the fourth quarter valued at approximately $193,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Krispy Kreme during the fourth quarter valued at approximately $10,591,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.