Bank of New York Mellon Corp Has $5.43 Million Stock Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Bank of New York Mellon Corp increased its position in Krispy Kreme, Inc. (NASDAQ:DNUT) by 20.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 546,792 shares of the company’s stock after buying an additional 94,000 shares during the quarter. Bank of New York Mellon Corp’s holdings in Krispy Kreme were worth $5,430,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Landscape Capital Management L.L.C. grew its holdings in shares of Krispy Kreme by 86.1% in the third quarter. Landscape Capital Management L.L.C. now owns 216,559 shares of the company’s stock valued at $2,326,000 after acquiring an additional 100,163 shares in the last quarter. Paloma Partners Management Co lifted its holdings in Krispy Kreme by 6,993.4% during the 3rd quarter. Paloma Partners Management Co now owns 872,068 shares of the company’s stock worth $9,366,000 after purchasing an additional 859,774 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Krispy Kreme by 2.2% in the fourth quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock worth $1,182,000 after buying an additional 2,532 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Krispy Kreme in the 3rd quarter valued at $810,000. Finally, Holocene Advisors LP bought a new stake in Krispy Kreme during the third quarter valued at $1,716,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Krispy Kreme Stock Up 0.9 %

Shares of NASDAQ:DNUT opened at $5.41 on Tuesday. The company has a market cap of $921.32 million, a price-to-earnings ratio of 31.82, a PEG ratio of 3.24 and a beta of 1.40. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $8.03 and a 200 day moving average price of $9.91. Krispy Kreme, Inc. has a 12 month low of $5.31 and a 12 month high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The company had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $413.18 million. During the same period in the prior year, the business earned $0.09 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be issued a dividend of $0.035 per share. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 2.59%. Krispy Kreme’s dividend payout ratio (DPR) is currently 700.00%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DNUT. Piper Sandler cut their target price on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $12.00 price target (down previously from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.