Truist Financial Corp Cuts Stake in Krispy Kreme, Inc. (NASDAQ:DNUT)

Truist Financial Corp lessened its holdings in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 89.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,053 shares of the company’s stock after selling 83,817 shares during the quarter. Truist Financial Corp’s holdings in Krispy Kreme were worth $108,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DNUT. SG Americas Securities LLC increased its position 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 valued at $3,186,000 after buying an additional 191,044 shares in the last quarter. Capstone Investment Advisors LLC increased its holdings in shares of Krispy Kreme by 226.1% during the first quarter. Capstone Investment Advisors LLC now owns 172,339 shares of the company’s stock valued at $2,626,000 after acquiring an additional 119,486 shares in the last quarter. Samlyn Capital LLC raised its position in shares of Krispy Kreme by 120.5% in the 2nd quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after purchasing an additional 1,218,699 shares during the last quarter. Entropy Technologies LP acquired a new stake in Krispy Kreme in the 1st quarter worth approximately $246,000. Finally, Driehaus Capital Management LLC grew its position in Krispy Kreme by 121.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock worth $12,814,000 after purchasing an additional 653,637 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Price Performance

Shares of DNUT opened at $11.59 on Monday. The business’s 50-day moving average is $11.17 and its two-hundred day moving average is $11.49. The company has a market capitalization of $1.96 billion, a P/E ratio of -42.93, a P/E/G ratio of 3.15 and a beta of 1.41. Krispy Kreme, Inc. has a fifty-two week low of $9.18 and a fifty-two week high of $17.84. 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 (NASDAQ:DNUT) last issued its earnings results on Thursday, August 8th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $438.80 million for the quarter, compared to the consensus estimate of $435.43 million. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The company’s revenue 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. Research analysts predict that Krispy Kreme, Inc. will post 0.13 earnings per share for the current year.

Krispy Kreme Dividend Announcement

The company 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 1.21%. Krispy Kreme’s payout ratio is -51.85%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DNUT. Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Bank of America reduced their target price on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Evercore ISI reaffirmed an “in-line” rating and set a $13.00 price target on shares of Krispy Kreme in a research report on Tuesday, August 27th. 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 report 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.88.

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.