Krispy Kreme (NASDAQ:DNUT) Upgraded to Buy at HSBC

HSBC upgraded shares of Krispy Kreme (NASDAQ:DNUT) from a hold rating to a buy rating in a report released on Tuesday, Marketbeat reports. They currently have $14.00 price target on the stock.

Other analysts have also issued research reports about the company. Piper Sandler upgraded Krispy Kreme from a neutral rating to an overweight rating and boosted their price target for the company from $14.00 to $20.00 in a report on Friday, April 5th. Citigroup boosted their price target on Krispy Kreme from $14.00 to $19.00 and gave the company a neutral rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. assumed coverage on Krispy Kreme in a report on Monday, June 3rd. They issued an overweight rating and a $14.00 price target for the company. Truist Financial upgraded Krispy Kreme from a hold rating to a buy rating and boosted their price target for the company from $13.00 to $15.00 in a report on Monday, June 10th. Finally, Bank of America lowered their price target on Krispy Kreme from $19.00 to $16.00 and set a buy rating for the company in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Krispy Kreme currently has an average rating of Moderate Buy and a consensus target price of $16.25.

Krispy Kreme Trading Up 2.7 %

Shares of NASDAQ DNUT opened at $10.84 on Tuesday. The business’s 50 day moving average is $10.91 and its two-hundred day moving average is $12.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. Krispy Kreme has a 1-year low of $9.70 and a 1-year high of $17.84. The stock has a market capitalization of $1.83 billion, a P/E ratio of -40.15, a PEG ratio of 1.80 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Thursday, May 9th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm 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%. As a group, research analysts expect that Krispy Kreme will post 0.16 EPS for the current year.

Krispy Kreme Dividend Announcement

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

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently made changes to their positions in the business. Benin Management CORP increased its position in shares of Krispy Kreme by 74.6% in the 2nd quarter. Benin Management CORP now owns 33,480 shares of the company’s stock valued at $360,000 after acquiring an additional 14,300 shares during the period. OFI Invest Asset Management purchased a new position in Krispy Kreme in the 2nd quarter worth $451,000. Blue Trust Inc. purchased a new position in Krispy Kreme in the 2nd quarter worth $68,000. Tidal Investments LLC purchased a new position in Krispy Kreme in the 1st quarter worth $154,000. Finally, California State Teachers Retirement System raised its stake in Krispy Kreme by 3.4% in the 1st quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock worth $1,289,000 after acquiring an additional 2,769 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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.