Lazard Asset Management LLC Makes New Investment in Krispy Kreme, Inc. $DNUT

Lazard Asset Management LLC bought a new position in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 555,337 shares of the company’s stock, valued at approximately $1,883,000. Lazard Asset Management LLC owned about 0.32% of Krispy Kreme as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. R Squared Ltd lifted its stake in shares of Krispy Kreme by 48.0% in the first quarter. R Squared Ltd now owns 34,012 shares of the company’s stock worth $115,000 after buying an additional 11,029 shares in the last quarter. Abel Hall LLC acquired a new position in Krispy Kreme during the first quarter worth about $45,000. AdvisorShares Investments LLC purchased a new stake in Krispy Kreme during the 1st quarter valued at about $102,000. Apollon Wealth Management LLC purchased a new stake in Krispy Kreme during the 1st quarter valued at about $35,000. Finally, Alpine Global Management LLC acquired a new stake in Krispy Kreme in the 4th quarter valued at about $92,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $3.06 on Tuesday. The company’s 50-day moving average is $3.48 and its two-hundred day moving average is $3.43. Krispy Kreme, Inc. has a 1-year low of $2.88 and a 1-year high of $5.11. 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 firm has a market capitalization of $527.54 million, a price-to-earnings ratio of -1.02 and a beta of 1.27.

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

Insiders Place Their Bets

In other Krispy Kreme news, Director Bernardo Hees bought 235,875 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was bought at an average price 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 $4,166,435.43. The trade was a 23.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased 880,190 shares of company stock valued at $2,973,833 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Krispy Kreme Company Profile

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.