Krispy Kreme, Inc. (NASDAQ:DNUT) Major Shareholder Sells $3,000,002.40 in Stock

Krispy Kreme, Inc. (NASDAQ:DNUT) major shareholder Indulgence B.V. Jab sold 694,445 shares of the company’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 sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Krispy Kreme Trading Up 0.7 %

DNUT opened at $4.33 on Monday. Krispy Kreme, Inc. has a one year low of $3.91 and a one year high of $13.25. The company has a market cap of $737.40 million, a P/E ratio of 25.47, a PEG ratio of 3.24 and a beta of 1.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. The business’s 50-day simple moving average is $5.41 and its 200-day simple moving average is $8.48.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. As a group, equities research analysts expect that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DNUT shares. Morgan Stanley lowered shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $12.00 to $6.00 in a report on Wednesday, February 26th. Truist Financial reduced their target price on Krispy Kreme from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Piper Sandler decreased their price target on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.57.

Hedge Funds Weigh In On Krispy Kreme

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets acquired a new position in Krispy Kreme during the 4th quarter worth approximately $152,305,000. Bamco Inc. NY increased its position in Krispy Kreme by 24.7% during the 4th quarter. Bamco Inc. NY now owns 13,069,717 shares of the company’s stock worth $129,782,000 after purchasing an additional 2,588,398 shares during the period. Cooper Creek Partners Management LLC increased its position in Krispy Kreme by 43.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company’s stock worth $72,139,000 after purchasing an additional 2,186,136 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Krispy Kreme by 8.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,191,111 shares of the company’s stock worth $41,614,000 after acquiring an additional 333,764 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Krispy Kreme by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,110,288 shares of the company’s stock worth $20,960,000 after acquiring an additional 10,643 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.

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.