Krispy Kreme, Inc. (NASDAQ:DNUT) Given Average Rating of “Reduce” by Analysts

Krispy Kreme, Inc. (NASDAQ:DNUT) has been given an average recommendation of “Reduce” by the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $4.3333.

Several equities analysts have recently commented on the company. Zacks Research cut Krispy Kreme from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Wall Street Zen lowered shares of Krispy Kreme from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Evercore set a $4.00 price target on shares of Krispy Kreme in a report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Krispy Kreme from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday.

Insider Activity at Krispy Kreme

In other Krispy Kreme news, Director Bernardo Hees acquired 235,875 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was acquired at an average price of $3.39 per share, with a total value of $799,616.25. Following the transaction, the director directly owned 1,229,037 shares in the company, valued at approximately $4,166,435.43. This represents a 23.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have bought 655,113 shares of company stock valued at $2,205,191. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Krispy Kreme

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in Krispy Kreme in the first quarter valued at approximately $217,000. Millennium Management LLC raised its position in shares of Krispy Kreme by 522.1% during the 1st quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock worth $10,300,000 after purchasing an additional 1,756,932 shares during the period. Creative Planning lifted its holdings in shares of Krispy Kreme by 568.2% in the 2nd quarter. Creative Planning now owns 67,074 shares of the company’s stock worth $195,000 after purchasing an additional 57,036 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Krispy Kreme by 44.0% in the 2nd quarter. Legal & General Group Plc now owns 137,268 shares of the company’s stock worth $399,000 after purchasing an additional 41,929 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in Krispy Kreme during the 2nd quarter valued at approximately $32,000. Institutional investors own 81.72% of the company’s stock.

Krispy Kreme Trading Down 0.6%

NASDAQ:DNUT opened at $3.42 on Friday. The stock has a market cap of $589.61 million, a price-to-earnings ratio of -6.11 and a beta of 1.27. Krispy Kreme has a one year low of $2.88 and a one year high of $5.11. 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 business’s 50-day simple moving average is $3.36 and its 200 day simple moving average is $3.42.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Krispy Kreme had a negative return on equity of 1.17% and a negative net margin of 6.16%.The firm had revenue of $331.00 million during the quarter, compared to analyst estimates of $303.35 million. During the same quarter last year, the firm earned ($0.15) EPS. Krispy Kreme’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Krispy Kreme will post -0.07 earnings per share for the current fiscal year.

About Krispy Kreme

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.