Krispy Kreme (NASDAQ:DNUT) Sees Strong Trading Volume on Analyst Upgrade

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) saw unusually-high trading volume on Wednesday after Citigroup raised their price target on the stock from $14.00 to $19.00. Citigroup currently has a neutral rating on the stock. Approximately 8,862,268 shares were traded during trading, an increase of 439% from the previous session’s volume of 1,643,215 shares.The stock last traded at $15.69 and had previously closed at $17.35.

DNUT has been the topic of a number of other research reports. JPMorgan Chase & Co. cut their price target on shares of Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 19th. Capital One Financial started coverage on shares of Krispy Kreme in a report on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Krispy Kreme currently has an average rating of “Hold” and a consensus target price of $16.06.

Insider Transactions at Krispy Kreme

In other news, Director Michael J. Tattersfield sold 100,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $12.82, for a total value of $1,282,000.00. Following the sale, the director now owns 2,936,940 shares of the company’s stock, valued at $37,651,570.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.00% of the stock is currently owned by insiders.

Institutional Trading of Krispy Kreme

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banco Santander S.A. raised its position in Krispy Kreme by 1.4% during the third quarter. Banco Santander S.A. now owns 6,895,249 shares of the company’s stock worth $85,984,000 after acquiring an additional 97,037 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Krispy Kreme by 59.5% in the third quarter. Bamco Inc. NY now owns 9,221,657 shares of the company’s stock valued at $114,994,000 after acquiring an additional 3,439,948 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Krispy Kreme by 20.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 658,212 shares of the company’s stock worth $8,208,000 after buying an additional 109,869 shares in the last quarter. Hsbc Holdings PLC grew its stake in Krispy Kreme by 6,049.6% during the third quarter. Hsbc Holdings PLC now owns 2,714,426 shares of the company’s stock worth $34,009,000 after buying an additional 2,670,286 shares in the last quarter. Finally, Swiss National Bank grew its stake in Krispy Kreme by 13.7% during the third quarter. Swiss National Bank now owns 166,400 shares of the company’s stock worth $2,075,000 after buying an additional 20,000 shares in the last quarter. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Price Performance

The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -69.25, a P/E/G ratio of 3.74 and a beta of 1.43. The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $13.16 and its 200-day simple moving average is $13.26.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The business had revenue of $450.90 million during the quarter, compared to the consensus estimate of $438.95 million. During the same quarter last year, the business earned $0.11 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts forecast that Krispy Kreme, Inc. will post 0.17 earnings per share for the current year.

Krispy Kreme Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.92%. The ex-dividend date is Tuesday, April 23rd. Krispy Kreme’s dividend payout ratio (DPR) is currently -63.64%.

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.