Krispy Kreme, Inc. (NASDAQ:DNUT) Sees Significant Growth in Short Interest

Krispy Kreme, Inc. (NASDAQ:DNUT) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 18,600,000 shares, a growth of 9.0% from the May 31st total of 17,060,000 shares. Based on an average trading volume of 3,740,000 shares, the short-interest ratio is currently 5.0 days. Approximately 23.0% of the shares of the company are sold short.

Krispy Kreme Trading Down 5.1 %

Krispy Kreme stock opened at $10.21 on Tuesday. The firm has a 50-day moving average price of $11.68 and a 200-day moving average price of $13.03. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.27 and a current ratio of 0.36. Krispy Kreme has a 12-month low of $9.98 and a 12-month high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Krispy Kreme had a negative net margin of 2.70% and a positive return on equity of 1.40%. The firm had revenue of $442.70 million during the quarter, compared to analyst estimates of $433.87 million. Research analysts expect that Krispy Kreme will post 0.16 EPS for the current year.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 1.37%. Krispy Kreme’s payout ratio is -51.85%.

Analyst Upgrades and Downgrades

DNUT has been the subject of a number of analyst reports. Bank of America increased their price objective on shares of Krispy Kreme from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Piper Sandler raised shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $20.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. initiated coverage on shares of Krispy Kreme in a research note on Monday, June 3rd. They issued an “overweight” rating and a $14.00 price objective for the company. Citigroup increased their price objective on shares of Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Finally, Truist Financial raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and raised their target price for the company from $13.00 to $15.00 in a research note on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.69.

Institutional Investors Weigh In On Krispy Kreme

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new stake in shares of Krispy Kreme in the 1st quarter valued at about $154,000. Victory Capital Management Inc. bought a new stake in shares of Krispy Kreme in the 4th quarter valued at about $157,000. Armistice Capital LLC bought a new stake in shares of Krispy Kreme in the 4th quarter valued at about $170,000. Sciencast Management LP bought a new stake in shares of Krispy Kreme in the 1st quarter valued at about $223,000. Finally, Handelsbanken Fonder AB purchased a new position in shares of Krispy Kreme in the 4th quarter worth approximately $225,000. Institutional investors own 81.72% of the company’s stock.

About Krispy Kreme

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.