Divisadero Street Capital Management LP Acquires 589,341 Shares of Krispy Kreme, Inc. $DNUT

Divisadero Street Capital Management LP boosted its stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 117.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,089,341 shares of the company’s stock after buying an additional 589,341 shares during the period. Divisadero Street Capital Management LP owned approximately 0.64% of Krispy Kreme worth $4,216,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC bought a new stake in shares of Krispy Kreme during the first quarter worth $217,000. Millennium Management LLC raised its holdings in shares of Krispy Kreme by 522.1% during the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock worth $10,300,000 after acquiring an additional 1,756,932 shares during the period. Bank of Montreal Can bought a new stake in Krispy Kreme in the 2nd quarter valued at $38,000. Los Angeles Capital Management LLC acquired a new position in Krispy Kreme in the 2nd quarter worth $80,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Krispy Kreme in the 2nd quarter worth $182,000. Institutional investors own 81.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research note on Monday, December 29th. Wall Street Zen raised Krispy Kreme from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Morgan Stanley reissued an “underweight” rating and issued a $3.00 target price on shares of Krispy Kreme in a research report on Tuesday, January 20th. Finally, Zacks Research upgraded Krispy Kreme from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $4.52.

Krispy Kreme Trading Up 1.9%

Shares of NASDAQ:DNUT opened at $3.27 on Monday. The company’s 50-day moving average price is $3.43 and its two-hundred day moving average price is $3.67. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.38 and a quick ratio of 0.32. Krispy Kreme, Inc. has a one year low of $2.50 and a one year high of $5.74. The stock has a market capitalization of $563.09 million, a PE ratio of -1.08 and a beta of 1.27.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $392.37 million during the quarter, compared to analysts’ expectations of $386.72 million. Krispy Kreme had a negative return on equity of 3.66% and a negative net margin of 33.87%.Krispy Kreme’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 EPS. On average, equities analysts forecast that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Profile

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.