Brokerages Set Krispy Kreme, Inc. (NASDAQ:DNUT) PT at $4.62

Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have been assigned an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $4.6250.

Several brokerages recently issued reports on DNUT. Zacks Research lowered shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings restated a “sell (d)” rating on shares of Krispy Kreme in a report on Wednesday, June 24th. Wall Street Zen raised shares of Krispy Kreme from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Capital One Financial upgraded Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective for the company in a report on Thursday, March 26th.

Insider Activity at Krispy Kreme

In other news, Director Bernardo Hees purchased 235,875 shares of Krispy Kreme stock in a transaction that occurred on Tuesday, June 2nd. The shares were bought at an average cost of $3.39 per share, with a total value of $799,616.25. Following the completion of the purchase, the director directly owned 1,229,037 shares in the company, valued at approximately $4,166,435.43. This trade represents a 23.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders purchased 880,190 shares of company stock valued at $2,973,833. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Krispy Kreme

Hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in Krispy Kreme in the first quarter worth about $1,883,000. R Squared Ltd boosted its stake in shares of Krispy Kreme by 48.0% in the 1st quarter. R Squared Ltd now owns 34,012 shares of the company’s stock worth $115,000 after buying an additional 11,029 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Krispy Kreme during the 1st quarter valued at about $45,000. AdvisorShares Investments LLC purchased a new position in shares of Krispy Kreme in the first quarter worth approximately $102,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Krispy Kreme during the 1st quarter worth $35,000. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $3.44 on Friday. Krispy Kreme has a 1 year low of $2.88 and a 1 year high of $5.73. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.42 and a quick ratio of 0.36. The business has a fifty day simple moving average of $3.54 and a two-hundred day simple moving average of $3.55. The company has a market capitalization of $593.06 million, a P/E ratio of -1.15 and a beta of 1.26.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $367.03 million for the quarter, compared to analysts’ expectations of $359.42 million. Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, analysts expect that Krispy Kreme will post -0.13 earnings per share for the current year.

About Krispy Kreme

Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.