Krispy Kreme (NASDAQ:DNUT - Get Free Report) had its target price decreased by equities research analysts at Morgan Stanley from $3.00 to $2.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price objective indicates a potential downside of 20.51% from the company's current price.
Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Krispy Kreme in a report on Wednesday, May 14th. Truist Financial cut Krispy Kreme from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, Citigroup lowered their price target on Krispy Kreme from $4.75 to $3.60 and set a "neutral" rating on the stock in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Krispy Kreme has a consensus rating of "Moderate Buy" and an average price target of $10.14.
Get Our Latest Stock Report on DNUT
Krispy Kreme Stock Performance
Shares of NASDAQ:DNUT traded down $0.19 on Monday, reaching $3.15. The company's stock had a trading volume of 408,066 shares, compared to its average volume of 2,776,156. The stock's 50-day moving average is $3.05 and its two-hundred day moving average is $5.51. Krispy Kreme has a 52-week low of $2.50 and a 52-week high of $12.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.35 and a quick ratio of 0.28. The stock has a market capitalization of $536.72 million, a P/E ratio of -24.50 and a beta of 1.29.
Krispy Kreme (NASDAQ:DNUT - Get Free Report) last released its 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). 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%. The company's revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. As a group, sell-side analysts forecast that Krispy Kreme will post 0.07 EPS for the current year.
Insider Buying and Selling
In related news, major shareholder Indulgence B.V. Jab sold 694,445 shares of Krispy Kreme 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 completion of the sale, the insider owned 74,190,990 shares in the company, valued at approximately $320,505,076.80. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company's stock.
Institutional Trading of Krispy Kreme
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNUT. GAMMA Investing LLC raised its holdings in Krispy Kreme by 1,440.9% in the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company's stock valued at $46,000 after acquiring an additional 8,732 shares during the last quarter. Spartan Fund Management Inc. lifted its position in 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 buying an additional 3,000 shares during the period. Malaga Cove Capital LLC purchased a new position in Krispy Kreme during the first quarter worth about $51,000. Teacher Retirement System of Texas purchased a new position in Krispy Kreme during the first quarter worth about $61,000. Finally, AFG Fiduciary Services Limited Partnership purchased a new position in Krispy Kreme during the second quarter worth about $81,000. Hedge funds and other institutional investors own 81.72% of the company's stock.
About Krispy Kreme
(
Get Free Report)
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.
See Also
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.
Before you consider Krispy Kreme, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Krispy Kreme wasn't on the list.
While Krispy Kreme currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
