Krispy Kreme (NASDAQ:DNUT) Shares Up 7.4% – What’s Next?
by Mitch Edgeman · The Markets DailyKrispy Kreme, Inc. (NASDAQ:DNUT – Get Free Report)’s share price rose 7.4% during trading on Tuesday . The stock traded as high as $3.65 and last traded at $3.6950. Approximately 659,715 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 2,484,304 shares. The stock had previously closed at $3.44.
Analysts Set New Price Targets
Several research firms recently weighed in on DNUT. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a report on Monday, December 29th. Zacks Research raised Krispy Kreme from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Morgan Stanley reiterated an “underweight” rating and set a $3.00 price objective on shares of Krispy Kreme in a research report on Tuesday, January 20th. Finally, Wall Street Zen raised shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $4.52.
View Our Latest Stock Report on DNUT
Krispy Kreme Trading Up 3.9%
The firm has a market capitalization of $615.62 million, a P/E ratio of -1.18 and a beta of 1.27. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average of $3.42 and a 200-day moving average of $3.67.
Krispy Kreme (NASDAQ:DNUT – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.06. The firm had revenue of $392.37 million during the quarter, compared to analysts’ expectations of $386.72 million. Krispy Kreme had a negative return on equity of 3.66% and a negative net margin of 33.87%.The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 EPS. On average, equities research analysts predict that Krispy Kreme, Inc. will post 0.07 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Krispy Kreme
Large investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Krispy Kreme in the 1st quarter valued at approximately $217,000. Millennium Management LLC increased its stake in Krispy Kreme by 522.1% in the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock valued at $10,300,000 after acquiring an additional 1,756,932 shares during the last quarter. Bank of Montreal Can acquired a new position in Krispy Kreme during the second quarter valued at approximately $38,000. Los Angeles Capital Management LLC bought a new stake in Krispy Kreme during the second quarter worth $80,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Krispy Kreme during the second quarter worth $182,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.
Krispy Kreme Company Profile
Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.
Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.