Hollencrest Capital Management Takes $323,000 Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Hollencrest Capital Management purchased a new position in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the company’s stock, valued at approximately $323,000.

A number of other hedge funds have also added to or reduced their stakes in DNUT. Dimensional Fund Advisors LP lifted its holdings in shares of Krispy Kreme by 38.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock worth $40,670,000 after acquiring an additional 1,042,345 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Krispy Kreme during the 2nd quarter valued at $185,000. Signaturefd LLC increased its holdings in Krispy Kreme by 21.0% in the 2nd quarter. Signaturefd LLC now owns 50,109 shares of the company’s stock worth $539,000 after purchasing an additional 8,710 shares in the last quarter. Benin Management CORP raised its position in Krispy Kreme by 74.6% in the second quarter. Benin Management CORP now owns 33,480 shares of the company’s stock valued at $360,000 after purchasing an additional 14,300 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Krispy Kreme in the second quarter valued at approximately $451,000. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Stock Up 0.2 %

DNUT stock opened at $12.22 on Friday. The stock’s 50 day simple moving average is $10.93 and its 200 day simple moving average is $11.83. The company has a market cap of $2.06 billion, a P/E ratio of -45.26, a price-to-earnings-growth ratio of 3.42 and a beta of 1.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.26 and a current ratio of 0.34. Krispy Kreme, Inc. has a fifty-two week low of $9.18 and a fifty-two week high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Krispy Kreme had a negative net margin of 2.98% and a positive return on equity of 1.12%. The business had revenue of $438.80 million during the quarter, compared to the consensus estimate of $435.43 million. During the same quarter last year, the firm posted $0.04 EPS. Krispy Kreme’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that Krispy Kreme, Inc. will post 0.13 earnings per share for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is currently -51.85%.

Analyst Ratings Changes

DNUT has been the subject of several recent research reports. Truist Financial upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and upped their price target for the company from $13.00 to $15.00 in a research report on Monday, June 10th. HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, July 23rd. Bank of America lowered their target price on shares of Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. started coverage on shares of Krispy Kreme in a research report on Monday, June 3rd. They set an “overweight” rating and a $14.00 price target on the stock. Finally, Hsbc Global Res raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Krispy Kreme has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

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.