Analysts Set Krispy Kreme, Inc. (NASDAQ:DNUT) Target Price at $4.63

Krispy Kreme, Inc. (NASDAQ:DNUT) has earned an average recommendation of “Hold” from the eight analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $4.6250.

DNUT has been the subject of several research reports. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 price target on shares of Krispy Kreme in a research report on Tuesday, January 20th. Wall Street Zen raised shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a research report on Friday, March 27th. Capital One Financial raised shares of Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price target for the company in a research report on Thursday, March 26th. Finally, Zacks Research cut shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds have recently modified their holdings of the business. Federated Hermes Inc. lifted its position in Krispy Kreme by 42.4% during the fourth quarter. Federated Hermes Inc. now owns 3,565,152 shares of the company’s stock valued at $14,332,000 after acquiring an additional 1,061,308 shares during the last quarter. Marshall Wace LLP purchased a new stake in Krispy Kreme during the third quarter valued at approximately $11,704,000. Balyasny Asset Management L.P. lifted its position in Krispy Kreme by 419.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,795,546 shares of the company’s stock valued at $10,819,000 after acquiring an additional 2,257,061 shares during the last quarter. Geode Capital Management LLC lifted its position in Krispy Kreme by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 2,231,100 shares of the company’s stock valued at $8,971,000 after acquiring an additional 153,645 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Krispy Kreme by 522.1% during 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. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Krispy Kreme Price Performance

Shares of DNUT stock opened at $3.22 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.42 and a quick ratio of 0.36. The company has a market capitalization of $555.13 million, a P/E ratio of -1.08 and a beta of 1.32. The company’s 50-day simple moving average is $3.50 and its two-hundred day simple moving average is $3.68. Krispy Kreme has a one year low of $2.50 and a one year high of $5.73.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.The company had revenue of $367.03 million during the quarter, compared to the consensus estimate of $359.42 million. During the same quarter in the prior year, the company earned ($0.05) earnings per share. Krispy Kreme’s revenue was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Krispy Kreme will post -0.01 EPS for the current year.

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.