Driehaus Capital Management LLC Buys 653,637 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

Driehaus Capital Management LLC increased its stake in Krispy Kreme, Inc. (NASDAQ:DNUT) by 121.7% in the second quarter, Holdings Channel reports. The institutional investor owned 1,190,865 shares of the company’s stock after acquiring an additional 653,637 shares during the period. Driehaus Capital Management LLC’s holdings in Krispy Kreme were worth $12,814,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Bamco Inc. NY raised its stake in shares of Krispy Kreme by 2.6% in 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 during the period. Vanguard Group Inc. raised its position in Krispy Kreme by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock worth $130,237,000 after purchasing an additional 67,130 shares during the period. Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 1,042,345 shares during the last quarter. Millennium Management LLC boosted 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 buying an additional 2,021,974 shares during the period. Finally, Samlyn Capital LLC grew its stake in shares of Krispy Kreme by 120.5% during the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after buying an additional 1,218,699 shares during the last quarter. 81.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DNUT has been the subject of a number of research analyst reports. 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. Bank of America reduced their target price on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Evercore ISI reissued an “in-line” rating and set a $13.00 target price on shares of Krispy Kreme in a research note on Tuesday, August 27th. 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. Finally, Truist Financial upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $15.00 in a report on Monday, June 10th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.88.

Krispy Kreme Stock Performance

DNUT stock opened at $10.92 on Monday. Krispy Kreme, Inc. has a 1-year low of $9.18 and a 1-year high of $17.84. The business has a 50-day moving average price of $11.00 and a 200 day moving average price of $11.77. The company has a market capitalization of $1.84 billion, a P/E ratio of -40.44, a PEG ratio of 3.54 and a beta of 1.41. 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 (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 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 analyst estimates of $435.43 million. During the same quarter in the previous year, the business posted $0.04 EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts forecast that Krispy Kreme, Inc. will post 0.13 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $0.14 annualized dividend and a yield of 1.28%. 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.