Krispy Kreme (NASDAQ:DNUT) Price Target Raised to $16.00 at Bank of America

Krispy Kreme (NASDAQ:DNUT) had its price target increased by Bank of America from $15.00 to $16.00 in a research report sent to investors on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. Evercore ISI reissued an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. Finally, HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, July 23rd. Three equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.88.

Krispy Kreme Price Performance

Shares of Krispy Kreme stock opened at $11.64 on Tuesday. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.96 billion, a PE ratio of -43.11, a PEG ratio of 3.15 and a beta of 1.41. Krispy Kreme has a 12 month low of $9.18 and a 12 month high of $17.84. The stock has a 50 day moving average of $11.25 and a 200 day moving average of $11.44.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.05 EPS for the quarter, hitting 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 company 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 firm earned $0.04 earnings per share. Krispy Kreme’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts expect that Krispy Kreme will post 0.13 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is currently -51.85%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its stake in Krispy Kreme by 1,058.1% during the first quarter. SG Americas Securities LLC now owns 209,100 shares of the company’s stock worth $3,186,000 after purchasing an additional 191,044 shares during the period. Capstone Investment Advisors LLC raised its stake 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 purchasing an additional 119,486 shares during the period. Samlyn Capital LLC boosted its position in 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 buying an additional 1,218,699 shares during the last quarter. Entropy Technologies LP purchased a new stake in Krispy Kreme during the 1st quarter worth approximately $246,000. Finally, Driehaus Capital Management LLC raised its stake in shares of Krispy Kreme by 121.7% in 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 in the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.