Krispy Kreme, Inc. (NASDAQ:DNUT) Short Interest Up 10.2% in August

Krispy Kreme, Inc. (NASDAQ:DNUT) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 19,600,000 shares, an increase of 10.2% from the August 15th total of 17,790,000 shares. Approximately 23.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,910,000 shares, the short-interest ratio is presently 10.3 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $15.00 in a research report on Monday, June 10th. JPMorgan Chase & Co. started coverage on Krispy Kreme in a research note on Monday, June 3rd. They set an “overweight” rating and a $14.00 price target for the company. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, July 23rd. Bank of America dropped their target price on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Three 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.88.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its stake in shares of Krispy Kreme by 157.1% in the 4th quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock valued at $106,130,000 after purchasing an additional 4,263,574 shares during the period. Millennium Management LLC lifted its position in 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 buying an additional 2,021,974 shares during the period. Marshall Wace LLP bought a new stake in shares of Krispy Kreme during the 2nd quarter valued at $18,765,000. Samlyn Capital LLC grew 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 worth $23,997,000 after buying an additional 1,218,699 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Krispy Kreme by 38.1% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Krispy Kreme Trading Down 1.6 %

Krispy Kreme stock traded down $0.20 during trading hours on Wednesday, reaching $12.20. The company had a trading volume of 1,080,360 shares, compared to its average volume of 2,185,991. The company has a 50-day moving average price of $10.88 and a 200 day moving average price of $11.83. Krispy Kreme has a 12-month low of $9.18 and a 12-month high of $17.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.34 and a quick ratio of 0.26. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -45.19, a P/E/G ratio of 3.42 and a beta of 1.41.

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

Krispy Kreme Announces Dividend

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 $0.035 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $0.14 annualized dividend and a yield of 1.15%. Krispy Kreme’s dividend payout ratio (DPR) is presently -51.85%.

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.