Krispy Kreme, Inc. (NASDAQ:DNUT) Declares $0.04 Quarterly Dividend

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Wednesday, July 24th will be paid a dividend of 0.035 per share on Wednesday, August 7th. This represents a $0.14 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, July 24th.

Krispy Kreme has a payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Krispy Kreme to earn $0.30 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 46.7%.

Krispy Kreme Price Performance

NASDAQ:DNUT traded up $0.11 during trading hours on Thursday, hitting $12.60. The company’s stock had a trading volume of 313,676 shares, compared to its average volume of 2,328,926. The business’s 50-day moving average is $13.45 and its two-hundred day moving average is $13.50. The company has a market capitalization of $2.13 billion, a PE ratio of -57.23, a PEG ratio of 2.47 and a beta of 1.52. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.26 and a current ratio of 0.33. Krispy Kreme has a 52-week low of $11.52 and a 52-week high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $450.90 million during the quarter, compared to analysts’ expectations of $438.95 million. Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. As a group, research analysts anticipate that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael J. Tattersfield sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $12.82, for a total value of $1,282,000.00. Following the sale, the director now directly owns 2,936,940 shares of the company’s stock, valued at $37,651,570.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Bank of America raised their price target on Krispy Kreme from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Capital One Financial assumed coverage on Krispy Kreme in a research report on Monday, January 22nd. They set an “equal weight” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Citigroup lifted their price objective on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Finally, Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $20.00 in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Krispy Kreme currently has an average rating of “Hold” and an average target price of $16.31.

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.