Ieq Capital LLC Makes New $560,000 Investment in Krispy Kreme, Inc. $DNUT

Ieq Capital LLC acquired a new stake in Krispy Kreme, Inc. (NASDAQ:DNUT) in the second quarter, Holdings Channel reports. The fund acquired 158,632 shares of the company’s stock, valued at approximately $560,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Deutsche Bank AG increased its holdings in shares of Krispy Kreme by 4.5% during the fourth quarter. Deutsche Bank AG now owns 83,611 shares of the company’s stock worth $336,000 after purchasing an additional 3,638 shares during the period. Allworth Financial LP bought a new stake in shares of Krispy Kreme in the second quarter valued at approximately $25,000. Russell Investments Group Ltd. boosted 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 valued at $33,000 after buying an additional 7,832 shares during the period. Price T Rowe Associates Inc. MD grew its position in Krispy Kreme by 21.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,672 shares of the company’s stock worth $192,000 after buying an additional 8,351 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in Krispy Kreme by 69.1% during the third quarter. Raymond James Financial Inc. now owns 21,287 shares of the company’s stock worth $82,000 after buying an additional 8,701 shares in the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Insider Activity

In other Krispy Kreme news, Director Bernardo Hees purchased 235,875 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average price of $3.39 per share, for a total transaction of $799,616.25. Following the purchase, the director owned 1,229,037 shares in the company, valued at approximately $4,166,435.43. This trade represents a 23.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 655,113 shares of company stock valued at $2,205,191. Company insiders own 1.60% of the company’s stock.

Krispy Kreme Stock Performance

NASDAQ DNUT opened at $3.47 on Friday. The firm’s 50 day simple moving average is $3.36 and its 200 day simple moving average is $3.42. The firm has a market capitalization of $598.23 million, a price-to-earnings ratio of -6.20 and a beta of 1.27. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 1.28. Krispy Kreme, Inc. has a 1 year low of $2.88 and a 1 year high of $5.11.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). Krispy Kreme had a negative net margin of 6.16% and a negative return on equity of 1.17%. The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $303.35 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. As a group, research analysts expect that Krispy Kreme, Inc. will post -0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on DNUT. Weiss Ratings raised Krispy Kreme from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Wall Street Zen lowered Krispy Kreme from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research cut Krispy Kreme from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Finally, Evercore set a $4.00 price target on Krispy Kreme in a research note on Friday, August 7th. Two analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company. According to MarketBeat.com, Krispy Kreme has an average rating of “Reduce” and an average price target of $4.33.

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.