Wells Fargo & Company MN Boosts Holdings in Krispy Kreme, Inc. (NASDAQ:DNUT)

Wells Fargo & Company MN grew its stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) by 100.9% during the fourth quarter, HoldingsChannel reports. The firm owned 229,352 shares of the company’s stock after purchasing an additional 115,177 shares during the quarter. Wells Fargo & Company MN’s holdings in Krispy Kreme were worth $2,277,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Krispy Kreme by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,110,288 shares of the company’s stock valued at $20,960,000 after acquiring an additional 10,643 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Krispy Kreme during the fourth quarter valued at approximately $10,591,000. KLP Kapitalforvaltning AS bought a new position in Krispy Kreme in the fourth quarter worth $193,000. Sei Investments Co. raised its holdings in Krispy Kreme by 491.7% in the fourth quarter. Sei Investments Co. now owns 121,297 shares of the company’s stock worth $1,204,000 after purchasing an additional 100,796 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Krispy Kreme during the fourth quarter valued at $647,000. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Stock Performance

Shares of NASDAQ DNUT opened at $4.33 on Friday. The firm’s 50-day moving average price is $5.41 and its 200-day moving average price is $8.52. Krispy Kreme, Inc. has a 52-week low of $3.91 and a 52-week high of $13.25. The company has a market cap of $737.40 million, a PE ratio of 25.47, a PEG ratio of 3.24 and a beta of 1.47. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67.

Krispy Kreme (NASDAQ:DNUT) last issued its 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 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 quarter in the prior year, the business posted $0.09 EPS. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that Krispy Kreme, Inc. will post 0.07 EPS for the current year.

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be given a $0.035 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a yield of 3.23%. Krispy Kreme’s payout ratio is 700.00%.

Insider Buying and Selling at Krispy Kreme

In other news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $4.32, for a total transaction of $3,000,002.40. Following the completion of the sale, the insider now owns 74,190,990 shares of the company’s stock, valued at $320,505,076.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DNUT. Morgan Stanley downgraded shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $12.00 to $6.00 in a research report on Wednesday, February 26th. Truist Financial reduced their price target on Krispy Kreme from $12.00 to $7.00 and set a “buy” rating for the company in a report on Thursday. Finally, Piper Sandler reduced their price target 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Krispy Kreme presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.57.

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.