Krispy Kreme (NASDAQ:DNUT) Hits New 52-Week Low at $9.89

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $9.89 and last traded at $9.97, with a volume of 856728 shares trading hands. The stock had previously closed at $10.21.

Wall Street Analysts Forecast Growth

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

Krispy Kreme Stock Performance

The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $12.98.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $442.70 million for the quarter, compared to analyst estimates of $433.87 million. Krispy Kreme had a negative net margin of 2.70% and a positive return on equity of 1.40%. Sell-side analysts anticipate that Krispy Kreme, Inc. will post 0.16 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.14 dividend on an annualized basis and a yield of 1.39%. Krispy Kreme’s dividend payout ratio is presently -51.85%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Natixis Advisors L.P. lifted its position in Krispy Kreme by 4.9% during the fourth quarter. Natixis Advisors L.P. now owns 25,248 shares of the company’s stock valued at $380,000 after purchasing an additional 1,181 shares during the period. ProShare Advisors LLC lifted its position in Krispy Kreme by 8.5% during the first quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock valued at $240,000 after purchasing an additional 1,239 shares during the period. Connable Office Inc. lifted its position in Krispy Kreme by 15.8% during the fourth quarter. Connable Office Inc. now owns 15,109 shares of the company’s stock valued at $228,000 after purchasing an additional 2,058 shares during the period. Truist Financial Corp lifted its position in Krispy Kreme by 3.0% during the fourth quarter. Truist Financial Corp now owns 92,719 shares of the company’s stock valued at $1,399,000 after purchasing an additional 2,701 shares during the period. Finally, California State Teachers Retirement System lifted its position in Krispy Kreme by 3.4% during the first quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock valued at $1,289,000 after purchasing an additional 2,769 shares during the period. 81.72% of the stock is currently owned by institutional investors and hedge funds.

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.