Krispy Kreme (NASDAQ:DNUT - Get Free Report) was upgraded by investment analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $20.00 target price on the stock, up from their prior target price of $14.00. Piper Sandler's target price suggests a potential upside of 30.46% from the company's previous close.
DNUT has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their target price on Krispy Kreme from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 19th. Citigroup boosted their target price on Krispy Kreme from $14.00 to $19.00 and gave the company a "neutral" rating in a research report on Wednesday, March 27th. Finally, Capital One Financial assumed coverage on Krispy Kreme in a research report on Monday, January 22nd. They issued an "equal weight" rating and a $16.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.31.
Check Out Our Latest Report on DNUT
Krispy Kreme Price Performance
Shares of Krispy Kreme stock traded up $1.04 on Friday, hitting $15.33. 11,993,689 shares of the company were exchanged, compared to its average volume of 2,288,157. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -68.45, a price-to-earnings-growth ratio of 3.61 and a beta of 1.47. The company has a 50-day moving average price of $13.27 and a 200 day moving average price of $13.33. Krispy Kreme has a 1-year low of $11.52 and a 1-year high of $17.84. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 0.66.
Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $450.90 million for the quarter, compared to analyst estimates of $438.95 million. Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, sell-side analysts predict that Krispy Kreme will post 0.17 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Michael J. Tattersfield sold 100,000 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $12.82, for a total transaction of $1,282,000.00. Following the completion of the transaction, the director now owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.00% of the company's stock.
Hedge Funds Weigh In On Krispy Kreme
Several large investors have recently bought and sold shares of DNUT. Advisor Group Holdings Inc. boosted its stake in Krispy Kreme by 178.8% in the first quarter. Advisor Group Holdings Inc. now owns 4,330 shares of the company's stock valued at $65,000 after acquiring an additional 2,777 shares in the last quarter. ProShare Advisors LLC acquired a new position in Krispy Kreme in the first quarter valued at $237,000. JPMorgan Chase & Co. boosted its stake in Krispy Kreme by 196.0% in the first quarter. JPMorgan Chase & Co. now owns 48,744 shares of the company's stock valued at $724,000 after acquiring an additional 32,276 shares in the last quarter. Raymond James & Associates boosted its stake in Krispy Kreme by 531.9% in the first quarter. Raymond James & Associates now owns 83,326 shares of the company's stock valued at $1,237,000 after acquiring an additional 70,139 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Krispy Kreme by 81.1% in the first quarter. Bank of New York Mellon Corp now owns 408,143 shares of the company's stock valued at $6,061,000 after acquiring an additional 182,771 shares in the last quarter. Institutional investors and hedge funds own 81.72% of the company's stock.
Krispy Kreme Company Profile
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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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