Krispy Kreme, Inc. (NASDAQ:DNUT) Receives $4.63 Average PT from Brokerages

Krispy Kreme, Inc. (NASDAQ:DNUT) has received an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $4.6250.

A number of analysts have issued reports on the company. Zacks Research lowered Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research report on Friday, March 27th. Wall Street Zen raised Krispy Kreme from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Capital One Financial raised Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 target price on the stock in a research report on Thursday, March 26th.

Krispy Kreme Trading Up 2.6%

DNUT opened at $4.31 on Tuesday. The firm has a market capitalization of $743.04 million, a price-to-earnings ratio of -1.44 and a beta of 1.27. The company’s 50 day simple moving average is $3.54 and its two-hundred day simple moving average is $3.64. Krispy Kreme has a 1-year low of $2.50 and a 1-year high of $5.73. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.42 and a quick ratio of 0.36.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $367.03 million during the quarter, compared to analysts’ expectations of $359.42 million. Krispy Kreme had a negative net margin of 33.36% and a negative return on equity of 4.34%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. Analysts expect that Krispy Kreme will post -0.07 EPS for the current fiscal year.

Insider Activity at Krispy Kreme

In other Krispy Kreme news, Director Bernardo Hees purchased 235,875 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was acquired at an average price of $3.39 per share, for a total transaction of $799,616.25. Following the completion of the purchase, the director directly owned 1,229,037 shares in the company, valued at approximately $4,166,435.43. The trade was a 23.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 880,190 shares of company stock valued at $2,973,833 in the last three months. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Krispy Kreme

Several institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in shares of Krispy Kreme by 11.9% in the third quarter. Arizona State Retirement System now owns 27,771 shares of the company’s stock worth $107,000 after acquiring an additional 2,961 shares in the last quarter. R Squared Ltd grew its stake in shares of Krispy Kreme by 33.4% in the third quarter. R Squared Ltd now owns 14,216 shares of the company’s stock worth $55,000 after acquiring an additional 3,556 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Krispy Kreme by 4.5% in the fourth quarter. Deutsche Bank AG now owns 83,611 shares of the company’s stock worth $336,000 after acquiring an additional 3,638 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Krispy Kreme by 1,229.5% in the third quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock worth $33,000 after acquiring an additional 7,832 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Krispy Kreme by 21.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,672 shares of the company’s stock worth $192,000 after acquiring an additional 8,351 shares in the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Company 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.