Krispy Kreme (NASDAQ:DNUT) Sees Strong Trading Volume on Analyst Upgrade

Krispy Kreme, Inc. (NASDAQ:DNUT) saw strong trading volume on Wednesday after Citigroup raised their price target on the stock from $14.00 to $19.00. Citigroup currently has a neutral rating on the stock. 8,862,268 shares changed hands during mid-day trading, an increase of 439% from the previous session’s volume of 1,643,215 shares.The stock last traded at $15.69 and had previously closed at $17.35.

Other equities research analysts have also recently issued reports about the stock. Capital One Financial assumed coverage on shares of Krispy Kreme in a research report on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Krispy Kreme presently has an average rating of “Hold” and an average price target of $16.06.

Insider Activity at Krispy Kreme

In other Krispy Kreme news, Director Michael J. Tattersfield sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $12.82, for a total transaction of $1,282,000.00. Following the completion of the sale, the director now directly owns 2,936,940 shares in the company, valued at approximately $37,651,570.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Krispy Kreme

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Krispy Kreme by 1.9% during the 3rd quarter. Royal Bank of Canada now owns 42,615 shares of the company’s stock valued at $491,000 after purchasing an additional 795 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Krispy Kreme by 24.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,049 shares of the company’s stock worth $50,000 after acquiring an additional 799 shares during the period. UBS Group AG grew its stake in shares of Krispy Kreme by 28.3% in the second quarter. UBS Group AG now owns 3,672 shares of the company’s stock worth $50,000 after acquiring an additional 810 shares during the period. Natixis Advisors L.P. grew its stake in shares of Krispy Kreme by 3.7% in the second quarter. Natixis Advisors L.P. now owns 24,343 shares of the company’s stock worth $359,000 after acquiring an additional 877 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Krispy Kreme by 9.6% in the third quarter. Amalgamated Bank now owns 10,248 shares of the company’s stock worth $128,000 after acquiring an additional 895 shares during the period. 81.72% of the stock is currently owned by institutional investors.

Krispy Kreme Price Performance

The business’s 50 day moving average price is $13.16 and its 200 day moving average price is $13.26. The stock has a market capitalization of $2.57 billion, a P/E ratio of -69.25, a price-to-earnings-growth ratio of 3.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. The company had revenue of $450.90 million during the quarter, compared to the consensus estimate of $438.95 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Krispy Kreme, Inc. will post 0.17 EPS for the current year.

Krispy Kreme Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a dividend of $0.035 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $0.14 annualized dividend and a yield of 0.92%. Krispy Kreme’s dividend payout ratio (DPR) is -63.64%.

About Krispy Kreme

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.