Krispy Kreme (NASDAQ:DNUT) Shares Gap Up to $12.45

Krispy Kreme, Inc. (NASDAQ:DNUT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $12.45, but opened at $14.84. Krispy Kreme shares last traded at $14.70, with a volume of 4,791,843 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on DNUT. Capital One Financial initiated coverage on shares of Krispy Kreme in a report on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. Finally, Citigroup boosted their price objective on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Krispy Kreme currently has a consensus rating of “Hold” and a consensus price target of $16.06.

Krispy Kreme Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26. The business’s 50-day simple moving average is $13.13 and its two-hundred day simple moving average is $13.25.

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

Krispy Kreme Dividend Announcement

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

Insider Buying and Selling

In other Krispy Kreme news, Director Michael J. Tattersfield sold 100,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $12.82, for a total value of $1,282,000.00. Following the transaction, the director now owns 2,936,940 shares of the company’s stock, valued at $37,651,570.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Krispy Kreme

A number of institutional investors have recently bought and sold shares of DNUT. Royal Bank of Canada grew its position in Krispy Kreme by 1.9% in the 3rd quarter. Royal Bank of Canada now owns 42,615 shares of the company’s stock valued at $491,000 after acquiring an additional 795 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Krispy Kreme by 24.6% during the third quarter. Tower Research Capital LLC TRC now owns 4,049 shares of the company’s stock worth $50,000 after acquiring an additional 799 shares during the period. UBS Group AG lifted its stake in Krispy Kreme by 28.3% during the second quarter. UBS Group AG now owns 3,672 shares of the company’s stock valued at $50,000 after buying an additional 810 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Krispy Kreme by 3.7% in the second quarter. Natixis Advisors L.P. now owns 24,343 shares of the company’s stock valued at $359,000 after acquiring an additional 877 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Krispy Kreme by 9.6% in the third quarter. Amalgamated Bank now owns 10,248 shares of the company’s stock valued at $128,000 after acquiring an additional 895 shares during the period. 81.72% of the stock is owned by hedge funds and other institutional investors.

About Krispy Kreme

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.