Krispy Kreme (NASDAQ:DNUT) Issues Quarterly Earnings Results

Krispy Kreme (NASDAQ:DNUT) issued its quarterly earnings data on Thursday. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07, Zacks reports. Krispy Kreme had a negative return on equity of 4.73% and a negative net margin of 33.27%.The company had revenue of $375.30 million for the quarter, compared to analysts’ expectations of $378.29 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis.

Krispy Kreme Stock Up 6.4%

Shares of DNUT traded up $0.25 during midday trading on Friday, hitting $4.16. The company had a trading volume of 8,817,429 shares, compared to its average volume of 15,078,550. The stock has a market cap of $712.19 million, a price-to-earnings ratio of -1.39 and a beta of 1.33. The company’s 50 day moving average price is $3.52 and its 200 day moving average price is $3.41. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 1.24. Krispy Kreme has a 52 week low of $2.50 and a 52 week high of $12.21.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America reduced their price target on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Singular Research upgraded shares of Krispy Kreme to a “moderate buy” rating in a research note on Wednesday, October 22nd. Capital One Financial lowered their price target on shares of Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, October 2nd. Morgan Stanley cut their price objective on shares of Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating on the stock in a report on Monday, July 14th. Finally, BNP Paribas Exane cut shares of Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 price objective for the company. in a research report on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.45.

Institutional Trading of Krispy Kreme

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its stake in Krispy Kreme by 522.1% during the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock valued at $10,300,000 after buying an additional 1,756,932 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Krispy Kreme during the 2nd quarter valued at approximately $1,567,000. First Trust Advisors LP raised its position in shares of Krispy Kreme by 143.9% during the 2nd quarter. First Trust Advisors LP now owns 549,059 shares of the company’s stock valued at $1,598,000 after acquiring an additional 323,954 shares in the last quarter. Occudo Quantitative Strategies LP boosted its holdings in Krispy Kreme by 352.2% in the second quarter. Occudo Quantitative Strategies LP now owns 393,325 shares of the company’s stock worth $1,145,000 after purchasing an additional 306,345 shares during the period. Finally, PDT Partners LLC bought a new stake in Krispy Kreme during the second quarter valued at $480,000. 81.72% of the stock is owned by institutional investors.

About Krispy Kreme

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.