Krispy Kreme (NASDAQ:DNUT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Krispy Kreme (NASDAQ:DNUT) from a sell rating to a hold rating in a research report released on Saturday.

A number of other brokerages have also recently issued reports on DNUT. Zacks Research raised Krispy Kreme from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Capital One Financial cut their price objective on shares of Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a research note on Monday, December 29th. Finally, Singular Research upgraded shares of Krispy Kreme to a “moderate buy” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.51.

Krispy Kreme Stock Performance

NASDAQ DNUT opened at $3.63 on Friday. The firm has a market cap of $621.82 million, a P/E ratio of -1.21 and a beta of 1.32. The company has a quick ratio of 0.30, a current ratio of 0.36 and a debt-to-equity ratio of 1.31. The company’s 50 day moving average is $4.17 and its 200-day moving average is $3.74. Krispy Kreme has a 12-month low of $2.50 and a 12-month high of $9.56.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $375.30 million during the quarter, compared to analyst estimates of $378.29 million. Krispy Kreme had a negative net margin of 33.27% and a negative return on equity of 5.13%. Krispy Kreme’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. Sell-side analysts predict that Krispy Kreme will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds and other institutional investors have recently modified their holdings of DNUT. Capstone Financial Advisors Inc. purchased a new stake in Krispy Kreme in the second quarter worth approximately $29,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Krispy Kreme in the 2nd quarter worth approximately $30,000. R Squared Ltd purchased a new stake in shares of Krispy Kreme in the 2nd quarter valued at $31,000. Prudential Financial Inc. purchased a new stake in shares of Krispy Kreme in the 2nd quarter valued at $32,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Krispy Kreme by 1,229.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock valued at $33,000 after purchasing an additional 7,832 shares during the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

About Krispy Kreme

Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.