Krispy Kreme (NASDAQ:DNUT) Reaches New 52-Week Low – Here’s What Happened

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $5.16 and last traded at $5.19, with a volume of 820039 shares changing hands. The stock had previously closed at $5.49.

Analysts Set New Price Targets

DNUT has been the topic of a number of research analyst reports. Morgan Stanley lowered Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Truist Financial restated a “buy” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Krispy Kreme in a research note on Wednesday, February 26th. Finally, Piper Sandler cut their target price on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.29.

Krispy Kreme Trading Down 8.9 %

The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The firm has a market cap of $851.50 million, a price-to-earnings ratio of 29.41, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40. The business’s fifty day moving average is $7.38 and its two-hundred day moving average is $9.55.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business had revenue of $404.00 million for the quarter, compared to analyst estimates of $413.18 million. During the same period in the prior year, the firm posted $0.09 EPS. Krispy Kreme’s revenue was down 10.4% on a year-over-year basis. Equities analysts anticipate that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.

Krispy Kreme Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, April 23rd. Krispy Kreme’s payout ratio is presently 700.00%.

Hedge Funds Weigh In On Krispy Kreme

Several institutional investors and hedge funds have recently modified their holdings of the business. Spartan Fund Management Inc. grew its holdings in shares of Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after buying an additional 3,000 shares in the last quarter. Point72 DIFC Ltd bought a new position in Krispy Kreme in the third quarter valued at $51,000. Central Pacific Bank Trust Division bought a new position in Krispy Kreme in the fourth quarter valued at $71,000. First Hawaiian Bank bought a new stake in Krispy Kreme during the 4th quarter worth about $111,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Krispy Kreme during the 4th quarter worth approximately $128,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

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.