Victory Capital Management Inc. Reduces Stock Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Victory Capital Management Inc. cut its stake in Krispy Kreme, Inc. (NASDAQ:DNUT) by 59.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,461 shares of the company’s stock after selling 15,213 shares during the quarter. Victory Capital Management Inc.’s holdings in Krispy Kreme were worth $113,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hsbc Holdings PLC grew its holdings in Krispy Kreme by 157.1% during the 4th quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock valued at $106,130,000 after buying an additional 4,263,574 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Krispy Kreme by 25.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company’s stock worth $34,971,000 after buying an additional 469,379 shares in the last quarter. Carlyle Group Inc. bought a new position in shares of Krispy Kreme in the first quarter valued at approximately $5,191,000. Bamco Inc. NY grew its stake in Krispy Kreme by 2.6% during the first quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock valued at $148,305,000 after acquiring an additional 246,600 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Krispy Kreme by 1,058.1% during the 1st quarter. SG Americas Securities LLC now owns 209,100 shares of the company’s stock worth $3,186,000 after acquiring an additional 191,044 shares during the period. 81.72% of the stock is currently owned by institutional investors.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $11.37 on Wednesday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -42.11, a PEG ratio of 3.42 and a beta of 1.41. The business has a 50 day moving average of $11.02 and a 200 day moving average of $11.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.34 and a quick ratio of 0.26. Krispy Kreme, Inc. has a 1-year low of $9.18 and a 1-year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Krispy Kreme had a negative net margin of 2.98% and a positive return on equity of 1.12%. The firm had revenue of $438.80 million during the quarter, compared to analyst estimates of $435.43 million. During the same period in the previous year, the business posted $0.04 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, sell-side analysts predict 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. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.23%. Krispy Kreme’s dividend payout ratio (DPR) is currently -51.85%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI reissued an “in-line” rating and issued a $13.00 price target on shares of Krispy Kreme in a report on Tuesday, August 27th. JPMorgan Chase & Co. assumed coverage on Krispy Kreme in a research report on Monday, June 3rd. They set an “overweight” rating and a $14.00 target price for the company. Truist Financial raised Krispy Kreme from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $15.00 in a 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 on the stock in a research note on Tuesday, July 23rd. Finally, Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.88.

Krispy Kreme Company 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.