Insider Buying: Krispy Kreme (NASDAQ:DNUT) Director Acquires $687,382.38 in Stock

Krispy Kreme, Inc. (NASDAQ:DNUT) Director Bernardo Hees purchased 200,989 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were purchased at an average price of $3.42 per share, with a total value of $687,382.38. Following the acquisition, the director directly owned 919,522 shares in the company, valued at approximately $3,144,765.24. The trade was a 27.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Bernardo Hees also recently made the following trade(s):

• On Wednesday, May 27th, Bernardo Hees purchased 22,114 shares of Krispy Kreme stock. The shares were purchased at an average price of $3.38 per share, with a total value of $74,745.32.
• On Tuesday, May 26th, Bernardo Hees purchased 1,974 shares of Krispy Kreme stock. The shares were purchased at an average price of $3.30 per share, with a total value of $6,514.20.

Krispy Kreme Stock Up 2.9%

Shares of NASDAQ DNUT opened at $3.52 on Friday. The company has a 50 day simple moving average of $3.49 and a 200-day simple moving average of $3.66. The company has a market capitalization of $606.85 million, a P/E ratio of -1.18 and a beta of 1.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.42 and a quick ratio of 0.36. Krispy Kreme, Inc. has a 1 year low of $2.50 and a 1 year high of $5.73.

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

Wall Street Analysts Forecast Growth

DNUT has been the subject of several research reports. Capital One Financial upgraded shares of Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 target price for the company in a report on Thursday, March 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Krispy Kreme in a report on Friday, March 27th. Wall Street Zen upgraded shares of Krispy Kreme from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Zacks Research downgraded shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.63.

Institutional Investors Weigh In On Krispy Kreme

Several institutional investors have recently modified their holdings of DNUT. Marshall Wace LLP purchased a new stake in shares of Krispy Kreme during the 3rd quarter worth $11,704,000. Balyasny Asset Management L.P. lifted its position in shares of 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 worth $10,819,000 after purchasing an additional 2,257,061 shares during the last quarter. Trustees of the University of Pennsylvania purchased a new stake in shares of Krispy Kreme during the 4th quarter worth $8,077,000. Millennium Management LLC lifted its position in shares of 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 purchasing an additional 1,756,932 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Krispy Kreme by 42.4% during 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 hedge funds and other institutional investors.

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.