Hsbc Holdings PLC Takes Position in Krispy Kreme, Inc. $DNUT

Hsbc Holdings PLC bought a new position in Krispy Kreme, Inc. (NASDAQ:DNUT) during the 2nd quarter, Holdings Channel reports. The fund bought 7,069,936 shares of the company’s stock, valued at approximately $24,992,000.

A number of other hedge funds also recently made changes to their positions in the company. Carlyle Group Inc. bought a new position in shares of Krispy Kreme during the 2nd quarter valued at approximately $1,203,000. AlpInvest Partners B.V. purchased a new position in shares of Krispy Kreme during the 2nd quarter worth about $2,231,000. Lazard Asset Management LLC bought a new position in shares of Krispy Kreme during the first quarter valued at approximately $1,883,000. Trustees of the University of Pennsylvania bought a new position in Krispy Kreme in the 4th quarter valued at $8,077,000. Finally, Ground Swell Capital LLC bought a new position in shares of Krispy Kreme in the fourth quarter worth about $67,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

Krispy Kreme Stock Performance

DNUT stock opened at $3.42 on Friday. Krispy Kreme, Inc. has a one year low of $2.88 and a one year high of $5.11. The firm has a market cap of $589.61 million, a price-to-earnings ratio of -6.11 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.29 and a current ratio of 0.36. The firm has a 50-day simple moving average of $3.36 and a two-hundred day simple moving average of $3.42.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $331.00 million for the quarter, compared to the consensus estimate of $303.35 million. Krispy Kreme had a negative net margin of 6.16% and a negative return on equity of 1.17%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.15) EPS. On average, equities analysts forecast that Krispy Kreme, Inc. will post -0.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on DNUT. Wall Street Zen downgraded Krispy Kreme from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Evercore set a $4.00 price objective on shares of Krispy Kreme in a research note on Friday, August 7th. Zacks Research downgraded shares of Krispy Kreme from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded Krispy Kreme from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $4.33.

Insiders Place Their Bets

In other news, Director Bernardo Hees purchased 25,002 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $3.49 per share, with a total value of $87,256.98. Following the completion of the acquisition, the director owned 1,574,635 shares of the company’s stock, valued at $5,495,476.15. This trade represents a 1.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 655,113 shares of company stock valued at $2,205,191 in the last three months. 1.60% of the stock is owned by company insiders.

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.