Krispy Kreme, Inc. (NASDAQ:DNUT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $15.88.

Several equities analysts have recently weighed in on the stock. Evercore ISI reiterated an “in-line” rating and issued a $13.00 price objective on shares of Krispy Kreme in a research note on Tuesday, August 27th. JPMorgan Chase & Co. initiated coverage on shares of Krispy Kreme in a research report on Monday, June 3rd. They set an “overweight” rating and a $14.00 price objective for the company. Hsbc Global Res raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Bank of America cut their price target on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, HSBC raised Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, July 23rd.

Krispy Kreme Price Performance

Shares of DNUT opened at $12.02 on Friday. The firm has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $11.83. The firm has a market cap of $2.03 billion, a PE ratio of -44.52, a P/E/G ratio of 3.42 and a beta of 1.41. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 0.73. Krispy Kreme has a 1-year low of $9.18 and a 1-year high of $17.84.

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

Krispy Kreme Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is currently -51.85%.

Institutional Investors Weigh In On Krispy Kreme

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its position in shares of Krispy Kreme by 8.7% during the second quarter. Point72 Asset Management L.P. now owns 47,294 shares of the company’s stock worth $509,000 after acquiring an additional 3,794 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Krispy Kreme by 121.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock valued at $12,814,000 after purchasing an additional 653,637 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Krispy Kreme by 2.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 50,819 shares of the company’s stock valued at $547,000 after purchasing an additional 1,399 shares during the last quarter. Millennium Management LLC grew its position in shares of Krispy Kreme by 136.7% during the second quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock valued at $37,669,000 after purchasing an additional 2,021,974 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Krispy Kreme in the second quarter worth about $18,765,000. 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.