IFP Advisors Inc Sells 1,992 Shares of Krispy Kreme, Inc. (NASDAQ:DNUT)

IFP Advisors Inc reduced its stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 13.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,342 shares of the company’s stock after selling 1,992 shares during the period. IFP Advisors Inc’s holdings in Krispy Kreme were worth $123,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DNUT. Point72 DIFC Ltd bought a new stake in shares of Krispy Kreme during the 3rd quarter worth $51,000. Central Pacific Bank Trust Division bought a new stake in shares of Krispy Kreme during the 4th quarter worth $71,000. First Hawaiian Bank purchased a new position in Krispy Kreme in the 4th quarter worth $111,000. Franklin Resources Inc. raised its position in Krispy Kreme by 30.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,467 shares of the company’s stock worth $158,000 after purchasing an additional 3,395 shares during the period. Finally, Sargent Investment Group LLC purchased a new position in Krispy Kreme in the 3rd quarter worth $215,000. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Price Performance

DNUT stock opened at $6.04 on Wednesday. The firm’s 50-day moving average price is $8.76 and its two-hundred day moving average price is $10.25. Krispy Kreme, Inc. has a 12-month low of $5.85 and a 12-month high of $17.84. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 3.24 and a beta of 1.34. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $413.18 million. During the same quarter in the prior year, the firm earned $0.09 EPS. Krispy Kreme’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts predict that Krispy Kreme, Inc. will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is currently 700.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial reiterated a “buy” rating and issued a $12.00 target price (down previously from $15.00) on shares of Krispy Kreme in a research report on Wednesday, February 26th. Piper Sandler decreased their target price on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley cut shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $13.13.

Krispy Kreme 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.