Krispy Kreme, Inc. (NASDAQ:DNUT) to Issue $0.04 Quarterly Dividend

Krispy Kreme, Inc. (NASDAQ:DNUT) declared a quarterly dividend on Friday, September 13th, Zacks reports. Stockholders of record on Wednesday, October 23rd will be paid a dividend of 0.035 per share on Wednesday, November 6th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Wednesday, October 23rd.

Krispy Kreme has a dividend payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Krispy Kreme to earn $0.21 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 66.7%.

Krispy Kreme Price Performance

DNUT stock opened at $11.47 on Tuesday. The company has a market capitalization of $1.93 billion, a P/E ratio of -42.48, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41. Krispy Kreme has a 52-week low of $9.18 and a 52-week high of $17.84. The business has a 50-day simple moving average of $11.19 and a two-hundred day simple moving average of $11.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.26 and a current ratio of 0.34.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $438.80 million during the quarter, compared to analyst estimates of $435.43 million. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. Krispy Kreme’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Research analysts expect that Krispy Kreme will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DNUT. Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 price objective on shares of Krispy Kreme in a research report on Tuesday, August 27th. Bank of America decreased their price target on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, July 23rd. Finally, Hsbc Global Res upgraded Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Three research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $15.88.

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.