Krispy Kreme (NASDAQ:DNUT) Given New $19.00 Price Target at Citigroup

Krispy Kreme (NASDAQ:DNUT) had its target price raised by Citigroup from $14.00 to $19.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of Krispy Kreme from $14.00 to $13.00 and set a neutral rating for the company in a research note on Tuesday, March 19th. Capital One Financial began coverage on Krispy Kreme in a report on Monday, January 22nd. They set an equal weight rating and a $16.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $16.06.

Krispy Kreme Stock Performance

DNUT stock opened at $15.35 on Wednesday. The stock’s 50 day simple moving average is $13.13 and its 200 day simple moving average is $13.25. Krispy Kreme has a 12-month low of $11.52 and a 12-month high of $17.84. The firm has a market cap of $2.59 billion, a P/E ratio of -69.77, a P/E/G ratio of 4.45 and a beta of 1.43. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 0.66.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Tuesday, February 13th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The company had revenue of $450.90 million for the quarter, compared to the consensus estimate of $438.95 million. During the same period last year, the company posted $0.11 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, equities research analysts predict that Krispy Kreme will post 0.17 EPS for the current year.

Krispy Kreme Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 0.91%. Krispy Kreme’s dividend payout ratio is currently -63.64%.

Insider Buying and Selling

In related news, Director Michael J. Tattersfield sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $12.82, for a total transaction of $1,282,000.00. Following the completion of the sale, the director now directly owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Krispy Kreme

Several hedge funds have recently modified their holdings of DNUT. Hsbc Holdings PLC raised its holdings in Krispy Kreme by 157.1% during the 4th quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock worth $106,130,000 after buying an additional 4,263,574 shares during the period. Banco Santander S.A. boosted its holdings in shares of Krispy Kreme by 158.4% in the second quarter. Banco Santander S.A. now owns 6,798,212 shares of the company’s stock worth $100,138,000 after buying an additional 4,167,588 shares during the period. Bamco Inc. NY increased its position in shares of Krispy Kreme by 59.5% in the third quarter. Bamco Inc. NY now owns 9,221,657 shares of the company’s stock worth $114,994,000 after acquiring an additional 3,439,948 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Krispy Kreme by 177.4% during the first quarter. BlackRock Inc. now owns 4,543,907 shares of the company’s stock valued at $67,477,000 after acquiring an additional 2,905,778 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Krispy Kreme by 91.7% during the first quarter. Vanguard Group Inc. now owns 5,674,509 shares of the company’s stock valued at $84,267,000 after acquiring an additional 2,714,348 shares during the period. 81.72% of the stock is owned by hedge funds and other institutional investors.

Krispy Kreme Company Profile

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.