AlTi Global Inc. Acquires 214,192 Shares of Krispy Kreme, Inc. $DNUT

AlTi Global Inc. lifted its holdings in Krispy Kreme, Inc. (NASDAQ:DNUT) by 40.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 748,666 shares of the company’s stock after buying an additional 214,192 shares during the quarter. AlTi Global Inc. owned about 0.44% of Krispy Kreme worth $2,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Krispy Kreme by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 8,867,100 shares of the company’s stock worth $43,626,000 after purchasing an additional 233,234 shares during the last quarter. Millennium Management LLC raised 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 purchasing an additional 1,756,932 shares during the last quarter. Federated Hermes Inc. bought a new stake in Krispy Kreme during the 1st quarter worth about $8,271,000. Clearline Capital LP bought a new stake in Krispy Kreme during the 1st quarter worth about $3,459,000. Finally, Quantbot Technologies LP raised its holdings in Krispy Kreme by 365.7% during the 1st quarter. Quantbot Technologies LP now owns 303,290 shares of the company’s stock worth $1,492,000 after purchasing an additional 238,171 shares during the last quarter. 81.72% of the stock is owned by institutional investors.

Krispy Kreme Price Performance

Shares of DNUT opened at $3.98 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.26 and a current ratio of 0.34. The stock has a 50 day simple moving average of $3.47 and a 200 day simple moving average of $3.44. Krispy Kreme, Inc. has a 52-week low of $2.50 and a 52-week high of $12.68. The firm has a market capitalization of $681.38 million, a PE ratio of -1.50 and a beta of 1.34.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.10). Krispy Kreme had a negative net margin of 29.33% and a negative return on equity of 5.55%. The business had revenue of $379.77 million during the quarter, compared to analyst estimates of $382.25 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. Krispy Kreme’s revenue for the quarter was down 13.5% compared to the same quarter last year. Sell-side analysts predict that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DNUT. Weiss Ratings reissued a “sell (e+)” rating on shares of Krispy Kreme in a report on Wednesday, October 8th. BNP Paribas raised Krispy Kreme to a “hold” rating in a report on Monday, July 21st. Zacks Research cut Krispy Kreme from a “hold” rating to a “strong sell” rating in a report on Monday, August 25th. Capital One Financial decreased their target price on Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. Finally, BNP Paribas Exane lowered Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 target price for the company. in a research report on Monday, July 21st. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.45.

Krispy Kreme Profile

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.