Price T Rowe Associates Inc. MD Increases Stake in Krispy Kreme, Inc. (NASDAQ:DNUT)

Price T Rowe Associates Inc. MD lifted its stake in Krispy Kreme, Inc. (NASDAQ:DNUT) by 17.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,087 shares of the company’s stock after purchasing an additional 5,032 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Krispy Kreme were worth $329,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Spartan Fund Management Inc. boosted its holdings in shares of 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. KLP Kapitalforvaltning AS purchased a new position in Krispy Kreme during the 4th quarter worth approximately $193,000. XTX Topco Ltd purchased a new position in Krispy Kreme during the 4th quarter worth approximately $199,000. Handelsbanken Fonder AB raised its position in Krispy Kreme by 4.4% during the 4th quarter. Handelsbanken Fonder AB now owns 30,800 shares of the company’s stock worth $306,000 after buying an additional 1,300 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in shares of Krispy Kreme during the 4th quarter worth approximately $431,000. 81.72% of the stock is currently owned by institutional investors.

Insider Transactions at Krispy Kreme

In other Krispy Kreme news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the business’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $4.32, for a total transaction of $3,000,002.40. Following the completion of the transaction, the insider now owns 74,190,990 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 5.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DNUT. Piper Sandler dropped their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Krispy Kreme in a report on Wednesday. Morgan Stanley downgraded Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $12.00 to $6.00 in a research report on Wednesday, February 26th. Truist Financial downgraded Krispy Kreme from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Citigroup lowered their price target on Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Krispy Kreme has a consensus rating of “Hold” and an average target price of $10.58.

Krispy Kreme Stock Up 4.6%

Shares of NASDAQ:DNUT opened at $3.21 on Friday. The firm has a market cap of $547.81 million, a price-to-earnings ratio of 18.88, a PEG ratio of 3.24 and a beta of 1.49. Krispy Kreme, Inc. has a 12-month low of $2.58 and a 12-month high of $12.68. 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 stock’s 50-day moving average price is $4.50 and its two-hundred day moving average price is $7.78.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Thursday, May 8th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. The business had revenue of $375.18 million for the quarter, compared to the consensus estimate of $383.97 million. During the same period last year, the business posted $0.07 EPS. The company’s revenue was down 15.2% on a year-over-year basis. On average, research analysts forecast that Krispy Kreme, Inc. will post 0.07 EPS for the current year.

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.