Krispy Kreme, Inc. (NASDAQ:DNUT) Stock Rated “Reduce” by Wall Street Brokerages

Krispy Kreme, Inc. (NASDAQ:DNUT) has earned an average recommendation of “Reduce” from the five analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $4.45.

Several brokerages have weighed in on DNUT. Wall Street Zen raised shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup boosted their target price on Krispy Kreme from $4.00 to $4.80 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings lowered Krispy Kreme from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. Zacks Research raised Krispy Kreme from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 27th. Finally, Evercore set a $4.00 price objective on Krispy Kreme in a research report on Friday, August 7th.

Krispy Kreme Price Performance

DNUT stock traded down $0.10 during trading on Monday, hitting $4.08. The company had a trading volume of 1,578,075 shares, compared to its average volume of 2,705,462. The company has a fifty day moving average price of $3.14 and a two-hundred day moving average price of $3.34. Krispy Kreme has a fifty-two week low of $2.81 and a fifty-two week high of $5.03. The company has a market cap of $702.53 million, a P/E ratio of -7.69 and a beta of 1.29. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 1.28.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $328.76 million for the quarter, compared to analyst estimates of $311.41 million. Krispy Kreme had a negative net margin of 5.94% and a negative return on equity of 0.28%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. Equities research analysts expect that Krispy Kreme will post -0.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC bought a new stake in shares of Krispy Kreme during the third quarter valued at approximately $32,000. Russell Investments Group Ltd. raised its position in Krispy Kreme by 112.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 273,184 shares of the company’s stock worth $784,000 after purchasing an additional 144,653 shares during the last quarter. State of Wyoming raised its position in Krispy Kreme by 120.4% in the 3rd quarter. State of Wyoming now owns 83,571 shares of the company’s stock worth $240,000 after purchasing an additional 45,655 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Krispy Kreme during the 3rd quarter worth $27,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Krispy Kreme during the 2nd quarter worth $56,000. Institutional investors and hedge funds own 81.72% of the company’s stock.

About Krispy Kreme

Krispy Kreme, Inc is a global doughnut and coffee company best known for its Original Glazed doughnuts. The company sells doughnuts, packaged sweets, coffee and other beverages through Krispy Kreme shops, in-store retail displays and digital ordering channels.

Krispy Kreme operates a hub-and-spoke distribution model that combines doughnut-making hubs and shops with delivery to grocery stores, convenience stores and other retail locations. Its products are also distributed through partnerships and branded locations, allowing the company to expand its reach beyond traditional Krispy Kreme shops.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown into an international brand serving customers in the United States and various markets across North America, Europe, Asia and Oceania.