Krispy Kreme (NASDAQ:DNUT) Reaches New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

Several equities research analysts recently commented on DNUT shares. Morgan Stanley cut Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $12.00 to $6.00 in a report on Wednesday, February 26th. Truist Financial reissued 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 decreased their target price on 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.29.

Krispy Kreme Trading Down 8.9 %

The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. The firm has a market capitalization of $851.50 million, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 3.24 and a beta of 1.40. The firm has a 50 day moving average price of $7.38 and a two-hundred day moving average price of $9.55.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The company had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. On average, equities research analysts expect that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

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

Institutional Trading of Krispy Kreme

Several large investors have recently added to or reduced their stakes in DNUT. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Krispy Kreme during the fourth quarter valued at $10,591,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Krispy Kreme by 13.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,373 shares of the company’s stock valued at $1,652,000 after acquiring an additional 19,295 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Krispy Kreme by 339.1% in the 4th quarter. Point72 Asset Management L.P. now owns 168,820 shares of the company’s stock valued at $1,676,000 after purchasing an additional 130,374 shares during the period. ProShare Advisors LLC lifted its position in shares of Krispy Kreme by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 24,094 shares of the company’s stock worth $239,000 after purchasing an additional 7,927 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Krispy Kreme by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company’s stock worth $483,000 after purchasing an additional 1,707 shares during the period. 81.72% of the stock is 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.