Wells Fargo & Company MN Purchases 115,177 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

Wells Fargo & Company MN raised its position in shares of Krispy Kreme, Inc. (NASDAQ:DNUT - Free Report) by 100.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,352 shares of the company's stock after purchasing an additional 115,177 shares during the quarter. Wells Fargo & Company MN owned 0.13% of Krispy Kreme worth $2,277,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division purchased a new stake in Krispy Kreme in the 4th quarter worth $71,000. First Hawaiian Bank purchased a new stake in shares of Krispy Kreme during the fourth quarter worth about $111,000. Franklin Resources Inc. raised its stake in Krispy Kreme by 30.7% during the 3rd quarter. Franklin Resources Inc. now owns 14,467 shares of the company's stock valued at $158,000 after purchasing an additional 3,395 shares during the period. KLP Kapitalforvaltning AS bought a new position in Krispy Kreme in the 4th quarter worth approximately $193,000. Finally, Handelsbanken Fonder AB grew its holdings in Krispy Kreme by 4.4% during the 4th quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company's stock valued at $306,000 after buying an additional 1,300 shares in the last quarter. 81.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Krispy Kreme news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the stock in a transaction on 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 sale, the insider now owns 74,190,990 shares of the company's stock, valued at approximately $320,505,076.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered shares of Krispy Kreme from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on Krispy Kreme from $18.00 to $12.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Finally, Truist Financial dropped their price target on Krispy Kreme from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.57.

Krispy Kreme Trading Up 2.8 %

Shares of Krispy Kreme stock traded up $0.12 on Thursday, reaching $4.22. The company had a trading volume of 349,431 shares, compared to its average volume of 2,262,603. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. Krispy Kreme, Inc. has a 1 year low of $3.91 and a 1 year high of $13.25. The firm has a market cap of $717.81 million, a price-to-earnings ratio of 24.79, a P/E/G ratio of 3.24 and a beta of 1.47. The firm's 50-day moving average price is $5.11 and its two-hundred day moving average price is $8.38.

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business had revenue of $404.00 million during the quarter, compared to analysts' expectations of $413.18 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company's quarterly revenue was down 10.4% compared to the same quarter last year. As a group, research analysts predict that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 3.32%. Krispy Kreme's payout ratio is currently 700.00%.

Krispy Kreme 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.