Krispy Kreme (NASDAQ:DNUT) Issues FY22 Earnings Guidance

Krispy Kreme (NASDAQ:DNUTGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.29-$0.32 for the period, compared to the consensus estimate of $0.41. The company issued revenue guidance of $1.49-$1.52 billion, compared to the consensus revenue estimate of $1.56 billion.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DNUT. Citigroup decreased their target price on Krispy Kreme from $16.00 to $15.00 and set a neutral rating for the company in a research report on Thursday, May 12th. HSBC upgraded shares of Krispy Kreme from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Friday, May 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Krispy Kreme from $16.00 to $14.00 in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $16.57.

Krispy Kreme Stock Performance

NASDAQ:DNUT traded down $2.13 during mid-day trading on Wednesday, hitting $12.39. The stock had a trading volume of 154,095 shares, compared to its average volume of 625,459. The company has a current ratio of 0.30, a quick ratio of 0.22 and a debt-to-equity ratio of 0.50. The company has a 50 day simple moving average of $13.99 and a 200-day simple moving average of $14.12. The stock has a market capitalization of $2.07 billion and a price-to-earnings ratio of -91.71. Krispy Kreme has a 52 week low of $11.98 and a 52 week high of $19.55.

Hedge Funds Weigh In On Krispy Kreme

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Krispy Kreme by 91.7% during the 1st quarter. Vanguard Group Inc. now owns 5,674,509 shares of the company’s stock worth $84,267,000 after acquiring an additional 2,714,348 shares during the period. BlackRock Inc. raised its stake in shares of Krispy Kreme by 177.4% during the first quarter. BlackRock Inc. now owns 4,543,907 shares of the company’s stock valued at $67,477,000 after purchasing an additional 2,905,778 shares in the last quarter. State Street Corp lifted its holdings in Krispy Kreme by 20.2% in the second quarter. State Street Corp now owns 1,421,740 shares of the company’s stock worth $19,336,000 after purchasing an additional 239,083 shares during the period. Northern Trust Corp increased its stake in Krispy Kreme by 178.8% during the 1st quarter. Northern Trust Corp now owns 661,703 shares of the company’s stock valued at $9,826,000 after buying an additional 424,351 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Krispy Kreme by 81.1% during the 1st quarter. Bank of New York Mellon Corp now owns 408,143 shares of the company’s stock worth $6,061,000 after buying an additional 182,771 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.

About Krispy Kreme

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Krispy Kreme, Inc, together with its subsidiaries, operates through an omni-channel business model to provide doughnut experiences and produce doughnuts. The company operates through three segments: U.S. and Canada, International, and Market Development. It also produces cookies, brownies, cookie cakes, ice cream, cookie-wiches, and cold milk, as well as doughnut mixes, other ingredients, and doughnut-making equipment.

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Earnings History and Estimates for Krispy Kreme (NASDAQ:DNUT)

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