Krispy Kreme (NASDAQ:DNUT) Stock Price Up 3.5% – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price was up 3.5% during mid-day trading on Monday . The company traded as high as $3.27 and last traded at $3.26. Approximately 1,554,664 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 2,621,517 shares. The stock had previously closed at $3.15.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DNUT shares. Zacks Research lowered shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded Krispy Kreme from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Krispy Kreme presently has an average rating of “Reduce” and an average target price of $4.50.

Krispy Kreme Stock Performance

The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. The firm has a market cap of $562.02 million, a PE ratio of -1.09 and a beta of 1.26. The stock’s 50 day moving average price is $3.49 and its 200 day moving average price is $3.46.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.The business had revenue of $367.03 million for the quarter, compared to analysts’ expectations of $359.42 million. During the same period last year, the company posted ($0.05) earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts forecast that Krispy Kreme, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Krispy Kreme

In related news, Director Bernardo Hees bought 25,002 shares of the stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $3.49 per share, for a total transaction of $87,256.98. Following the completion of the purchase, the director owned 1,574,635 shares in the company, valued at $5,495,476.15. This represents a 1.61% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 880,190 shares of company stock valued at $2,973,833 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Krispy Kreme

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP bought a new stake in shares of Krispy Kreme in the third quarter worth $11,704,000. Balyasny Asset Management L.P. boosted its stake in Krispy Kreme by 419.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,795,546 shares of the company’s stock valued at $10,819,000 after acquiring an additional 2,257,061 shares during the last quarter. Trustees of the University of Pennsylvania acquired a new position in Krispy Kreme during the 4th quarter worth $8,077,000. Millennium Management LLC grew its holdings in Krispy Kreme by 522.1% during the 1st quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock worth $10,300,000 after acquiring an additional 1,756,932 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Krispy Kreme by 42.4% in the 4th quarter. Federated Hermes Inc. now owns 3,565,152 shares of the company’s stock worth $14,332,000 after purchasing an additional 1,061,308 shares during the last quarter. 81.72% of the stock is owned by institutional investors and hedge funds.

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.