Brokerages Set Krispy Kreme, Inc. (NASDAQ:DNUT) Price Target at $5.59

Krispy Kreme, Inc. (NASDAQ:DNUT) has earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $5.5857.

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Krispy Kreme from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Singular Research upgraded Krispy Kreme to a “moderate buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research report on Monday, December 29th. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price on shares of Krispy Kreme in a research note on Tuesday, January 20th. Finally, Wall Street Zen raised Krispy Kreme from a “sell” rating to a “hold” rating in a report on Saturday, January 17th.

Krispy Kreme Trading Up 0.6%

Shares of NASDAQ:DNUT opened at $3.16 on Wednesday. The stock has a market capitalization of $541.31 million, a PE ratio of -1.06 and a beta of 1.31. The company’s 50-day moving average price is $3.96 and its two-hundred day moving average price is $3.74. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.36 and a quick ratio of 0.30. Krispy Kreme has a one year low of $2.50 and a one year high of $9.43.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Krispy Kreme had a negative return on equity of 5.13% and a negative net margin of 33.27%.The firm had revenue of $375.30 million during the quarter, compared to the consensus estimate of $378.29 million. During the same period last year, the company earned ($0.01) earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that Krispy Kreme will post 0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds have recently bought and sold shares of DNUT. SG Americas Securities LLC increased its position in Krispy Kreme by 53.0% during the third quarter. SG Americas Securities LLC now owns 1,199,552 shares of the company’s stock worth $4,642,000 after acquiring an additional 415,416 shares during the period. XTX Topco Ltd increased its holdings in shares of Krispy Kreme by 452.4% during the second quarter. XTX Topco Ltd now owns 340,289 shares of the company’s stock worth $990,000 after purchasing an additional 278,682 shares during the period. Federated Hermes Inc. raised its position in shares of Krispy Kreme by 78.9% in the second quarter. Federated Hermes Inc. now owns 3,007,345 shares of the company’s stock valued at $8,751,000 after buying an additional 1,326,212 shares in the last quarter. AlTi Global Inc. boosted its stake in shares of Krispy Kreme by 40.1% in the second quarter. AlTi Global Inc. now owns 748,666 shares of the company’s stock valued at $2,179,000 after buying an additional 214,192 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new stake in Krispy Kreme during the second quarter worth approximately $1,455,000. 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.