Krispy Kreme (NASDAQ:DNUT) Price Target Raised to $19.00 at Bank of America

Krispy Kreme (NASDAQ:DNUT - Get Free Report) had its price objective upped by research analysts at Bank of America from $16.00 to $19.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 32.68% from the company's current price.

A number of other brokerages have also recently issued reports on DNUT. JPMorgan Chase & Co. cut their price objective on Krispy Kreme from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday, March 19th. Capital One Financial initiated coverage on Krispy Kreme in a report on Monday, January 22nd. They set an "equal weight" rating and a $16.00 price objective for the company. Piper Sandler raised Krispy Kreme from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $14.00 to $20.00 in a report on Friday. Finally, Citigroup lifted their price objective on Krispy Kreme from $14.00 to $19.00 and gave the company a "neutral" rating in a report on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $16.31.

Krispy Kreme Stock Performance

DNUT stock traded down $1.01 during midday trading on Monday, hitting $14.32. The stock had a trading volume of 8,673,433 shares, compared to its average volume of 2,383,570. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -65.09, a P/E/G ratio of 4.06 and a beta of 1.47. Krispy Kreme has a 52 week low of $11.52 and a 52 week high of $17.84. The stock has a 50-day simple moving average of $13.32 and a 200 day simple moving average of $13.35. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 0.66.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). The company had revenue of $450.90 million for the quarter, compared to the consensus estimate of $438.95 million. Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The firm's revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, equities research analysts anticipate that Krispy Kreme will post 0.16 earnings per share for the current year.

Insider Activity

In related news, Director Michael J. Tattersfield sold 100,000 shares of Krispy Kreme stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $12.82, for a total value of $1,282,000.00. Following the completion of the sale, the director now directly owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Krispy Kreme by 25.7% in the third quarter. Vanguard Group Inc. now owns 8,423,196 shares of the company's stock worth $105,037,000 after purchasing an additional 1,721,287 shares during the period. Banco Santander S.A. raised its position in shares of Krispy Kreme by 1.4% in the 3rd quarter. Banco Santander S.A. now owns 6,895,249 shares of the company's stock valued at $85,984,000 after acquiring an additional 97,037 shares during the period. Bamco Inc. NY boosted its stake in Krispy Kreme by 59.5% during the 3rd quarter. Bamco Inc. NY now owns 9,221,657 shares of the company's stock worth $114,994,000 after acquiring an additional 3,439,948 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Krispy Kreme by 20.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 658,212 shares of the company's stock valued at $8,208,000 after purchasing an additional 109,869 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Krispy Kreme by 6,049.6% during the third quarter. Hsbc Holdings PLC now owns 2,714,426 shares of the company's stock valued at $34,009,000 after purchasing an additional 2,670,286 shares during the period. 81.72% of the stock is currently owned by institutional investors and hedge funds.

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.