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

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Friday, September 13th, Zacks reports. Investors 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 1.21%. The ex-dividend date is Wednesday, October 23rd.

Krispy Kreme has a payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. 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

Shares of NASDAQ DNUT opened at $11.59 on Monday. The company has a fifty day moving average price of $11.17 and a 200 day moving average price of $11.49. The firm has a market cap of $1.96 billion, a PE ratio of -42.93, a PEG ratio of 3.15 and a beta of 1.41. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 0.73. Krispy Kreme has a 1-year low of $9.18 and a 1-year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last issued 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 company had revenue of $438.80 million for 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%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.04 earnings per share. Research analysts predict that Krispy Kreme will post 0.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DNUT. Bank of America reduced 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. Evercore ISI reaffirmed an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, HSBC upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.