Krispy Kreme’s (DNUT) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

Krispy Kreme (NASDAQ:DNUT)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued on Wednesday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Piper Sandler lowered their target price on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Citigroup lowered their target price on shares of Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating on the stock in a report on Friday, May 9th. Truist Financial lowered shares of Krispy Kreme from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $12.00 to $6.00 in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.58.

Krispy Kreme Stock Up 4.6%

Shares of NASDAQ DNUT opened at $3.21 on Wednesday. The firm has a market cap of $547.81 million, a PE ratio of 18.88, a P/E/G ratio of 3.24 and a beta of 1.49. Krispy Kreme has a 12-month low of $2.58 and a 12-month high of $12.68. The company’s fifty day simple moving average is $4.50 and its 200 day simple moving average is $7.78. 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 quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $375.18 million during the quarter, compared to analysts’ expectations of $383.97 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The business’s revenue was down 15.2% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. As a group, sell-side analysts forecast that Krispy Kreme will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Krispy Kreme

In other Krispy Kreme news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $4.32, for a total value of $3,000,002.40. Following the completion of the sale, the insider now owns 74,190,990 shares in the company, valued at approximately $320,505,076.80. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Krispy Kreme

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its stake in Krispy Kreme by 4.4% in the 4th quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company’s stock valued at $306,000 after buying an additional 1,300 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Krispy Kreme by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company’s stock valued at $483,000 after buying an additional 1,707 shares in the last quarter. Swiss National Bank grew its stake in Krispy Kreme by 1.3% in the 4th quarter. Swiss National Bank now owns 166,800 shares of the company’s stock valued at $1,656,000 after buying an additional 2,100 shares in the last quarter. Rhumbline Advisers grew its stake in Krispy Kreme by 2.2% in the 4th quarter. Rhumbline Advisers now owns 119,083 shares of the company’s stock valued at $1,182,000 after buying an additional 2,532 shares in the last quarter. Finally, Spartan Fund Management Inc. grew its stake in Krispy Kreme by 150.0% in the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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.