JPMorgan Chase & Co. Initiates Coverage on Krispy Kreme (NASDAQ:DNUT)

JPMorgan Chase & Co. assumed coverage on shares of Krispy Kreme (NASDAQ:DNUTFree Report) in a report issued on Monday morning, Marketbeat reports. The brokerage issued an overweight rating and a $14.00 target price on the stock.

DNUT has been the subject of several other research reports. Citigroup raised their target price on Krispy Kreme from $14.00 to $19.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. Bank of America boosted their price objective on shares of Krispy Kreme from $16.00 to $19.00 and gave the company a buy rating in a report on Monday, April 8th. Finally, Piper Sandler raised shares of Krispy Kreme from a neutral rating to an overweight rating and increased their target price for the stock from $14.00 to $20.00 in a research note on Friday, April 5th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Krispy Kreme currently has a consensus rating of Hold and an average price target of $16.44.

View Our Latest Analysis on Krispy Kreme

Krispy Kreme Stock Up 4.0 %

Shares of NASDAQ:DNUT opened at $10.72 on Monday. Krispy Kreme has a 52-week low of $9.98 and a 52-week high of $17.84. The stock has a market cap of $1.81 billion, a P/E ratio of -39.70, a PEG ratio of 1.88 and a beta of 1.41. The business has a fifty day moving average of $12.77 and a two-hundred day moving average of $13.26. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 0.71.

Krispy Kreme (NASDAQ:DNUTGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $442.70 million during the quarter, compared to analysts’ expectations of $433.87 million. Krispy Kreme had a negative net margin of 2.70% and a positive return on equity of 1.40%. On average, research analysts expect that Krispy Kreme will post 0.16 earnings per share for the current year.

Krispy Kreme Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.14 annualized dividend and a yield of 1.31%. Krispy Kreme’s dividend payout ratio is presently -51.85%.

Insider Transactions at Krispy Kreme

In related news, Director Michael J. Tattersfield sold 100,000 shares of Krispy Kreme stock in a transaction on 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 completion of the transaction, the director now directly owns 2,936,940 shares in the company, valued at $37,651,570.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY raised its holdings in shares of Krispy Kreme by 2.6% in the 1st quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock valued at $148,305,000 after purchasing an additional 246,600 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Krispy Kreme by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock worth $130,237,000 after buying an additional 67,130 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of 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 acquiring an additional 4,263,574 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Krispy Kreme by 25.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company’s stock valued at $34,971,000 after acquiring an additional 469,379 shares during the last quarter. Finally, Cooper Creek Partners Management LLC raised its position in shares of Krispy Kreme by 16.6% during the 3rd quarter. Cooper Creek Partners Management LLC now owns 1,459,714 shares of the company’s stock worth $18,203,000 after acquiring an additional 207,314 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

About Krispy Kreme

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Krispy Kreme (NASDAQ:DNUT)

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