Krispy Kreme (NASDAQ:DNUT) Upgraded at HSBC

HSBC upgraded shares of Krispy Kreme (NASDAQ:DNUT) from a hold rating to a buy rating in a report issued on Tuesday morning, MarketBeat reports. The brokerage currently has $14.00 target price on the stock.

A number of other analysts have also recently issued reports on DNUT. Piper Sandler raised Krispy Kreme from a neutral rating to an overweight rating and increased their price objective for the stock from $14.00 to $20.00 in a report on Friday, April 5th. Truist Financial upgraded Krispy Kreme from a hold rating to a buy rating and upped their target price for the stock from $13.00 to $15.00 in a research note on Monday, June 10th. JPMorgan Chase & Co. initiated coverage on Krispy Kreme in a research note on Monday, June 3rd. They issued an overweight rating and a $14.00 target price on the stock. Citigroup upped their target price on Krispy Kreme from $14.00 to $19.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. Finally, Bank of America decreased their target price on Krispy Kreme from $19.00 to $16.00 and set a buy rating on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $16.25.

Krispy Kreme Stock Up 2.7 %

Shares of NASDAQ DNUT opened at $10.84 on Tuesday. Krispy Kreme has a one year low of $9.70 and a one year high of $17.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. The business’s fifty day moving average price is $10.91 and its 200-day moving average price is $12.52. The stock has a market capitalization of $1.83 billion, a PE ratio of -40.15, a P/E/G ratio of 1.80 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $442.70 million for the quarter, compared to analysts’ expectations of $433.87 million. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. On average, equities research analysts anticipate that Krispy Kreme will post 0.16 EPS for the current year.

Krispy Kreme Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.29%. The ex-dividend date is Wednesday, July 24th. Krispy Kreme’s dividend payout ratio is presently -51.85%.

Institutional Investors Weigh In On Krispy Kreme

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new stake in Krispy Kreme during the 2nd quarter valued at about $68,000. Tidal Investments LLC purchased a new stake in Krispy Kreme in the 1st quarter worth approximately $154,000. Victory Capital Management Inc. purchased a new stake in Krispy Kreme in the 4th quarter worth approximately $157,000. Armistice Capital LLC purchased a new stake in Krispy Kreme in the 4th quarter worth approximately $170,000. Finally, Sciencast Management LP purchased a new stake in Krispy Kreme in the 1st quarter worth approximately $223,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.