Krispy Kreme (NASDAQ:DNUT) Shares Down 5.4% - What's Next?

Krispy Kreme, Inc. (NASDAQ:DNUT - Get Free Report)'s share price traded down 5.4% on Thursday . The company traded as low as $3.30 and last traded at $3.26. 1,155,365 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 2,750,905 shares. The stock had previously closed at $3.44.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Krispy Kreme in a research note on Wednesday, May 14th. Citigroup decreased their target price 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. Finally, Truist Financial lowered shares of Krispy Kreme from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.58.

Krispy Kreme Price Performance

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 0.35. The stock's 50 day simple moving average is $3.16 and its two-hundred day simple moving average is $5.83. The firm has a market capitalization of $564.02 million, a PE ratio of -25.42 and a beta of 1.29.

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

Insider Activity at Krispy Kreme

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of Krispy Kreme stock in a transaction that occurred on Wednesday, April 23rd. The shares were 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 of the company's stock, valued at approximately $320,505,076.80. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company's stock.

Institutional Trading of Krispy Kreme

Several institutional investors have recently made changes to their positions in DNUT. BNP Paribas Financial Markets purchased a new stake in shares of Krispy Kreme during the 4th quarter valued at approximately $152,305,000. Bamco Inc. NY raised its position in shares of Krispy Kreme by 24.7% during the 4th quarter. Bamco Inc. NY now owns 13,069,717 shares of the company's stock valued at $129,782,000 after buying an additional 2,588,398 shares during the period. Cooper Creek Partners Management LLC raised its position in shares of Krispy Kreme by 43.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company's stock valued at $72,139,000 after buying an additional 2,186,136 shares during the period. Millennium Management LLC raised its position in shares of Krispy Kreme by 522.1% during the 1st quarter. Millennium Management LLC now owns 2,093,416 shares of the company's stock valued at $10,300,000 after buying an additional 1,756,932 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of Krispy Kreme during the 1st quarter valued at approximately $8,271,000. Hedge funds and other institutional investors 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.