Brokerages Set Krispy Kreme, Inc. (NASDAQ:DNUT) Price Target at $4.52

Krispy Kreme, Inc. (NASDAQ:DNUT) has earned a consensus recommendation of “Reduce” from the ten analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $4.5167.

A number of brokerages have recently weighed in on DNUT. Wall Street Zen raised shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Morgan Stanley reissued an “underweight” rating and set a $3.00 price target on shares of Krispy Kreme in a research report on Tuesday, January 20th. Zacks Research raised Krispy Kreme from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Krispy Kreme in a research report on Monday, December 29th.

Institutional Trading of Krispy Kreme

A number of hedge funds have recently bought and sold shares of DNUT. Marshall Wace LLP purchased a new position in shares of Krispy Kreme during the 3rd quarter worth $11,704,000. Balyasny Asset Management L.P. lifted its position in Krispy Kreme by 419.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,795,546 shares of the company’s stock worth $10,819,000 after buying an additional 2,257,061 shares during the period. Trustees of the University of Pennsylvania acquired a new stake in Krispy Kreme in the 4th quarter worth about $8,077,000. Millennium Management LLC grew its holdings in Krispy Kreme by 522.1% in the 1st quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock valued at $10,300,000 after buying an additional 1,756,932 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Krispy Kreme by 78.9% during the 2nd quarter. Federated Hermes Inc. now owns 3,007,345 shares of the company’s stock valued at $8,751,000 after acquiring an additional 1,326,212 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Stock Down 2.2%

DNUT opened at $3.62 on Friday. Krispy Kreme has a one year low of $2.50 and a one year high of $6.32. The company has a market cap of $620.11 million, a price-to-earnings ratio of -1.19 and a beta of 1.27. The business’s fifty day moving average is $3.52 and its two-hundred day moving average is $3.68. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.30 and a current ratio of 0.36.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The business had revenue of $392.37 million for the quarter, compared to analyst estimates of $386.72 million. Krispy Kreme had a negative net margin of 33.87% and a negative return on equity of 3.45%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 EPS. Analysts anticipate that Krispy Kreme will post 0.07 EPS for the current fiscal year.

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.