Krispy Kreme (NASDAQ:DNUT) Stock Price Down 3.6% – What’s Next?

Krispy Kreme, Inc. (NASDAQ:DNUT) shares traded down 3.6% during trading on Thursday . The stock traded as low as $3.63 and last traded at $3.5850. Approximately 216,269 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 2,443,080 shares. The stock had previously closed at $3.72.

Analyst Ratings Changes

A number of research firms have weighed in on DNUT. Wall Street Zen upgraded Krispy Kreme from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Capital One Financial upgraded Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 target price for the company in a research note on Thursday, March 26th. Zacks Research lowered Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Krispy Kreme in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.62.

Krispy Kreme Price Performance

The firm has a market cap of $616.33 million, a P/E ratio of -1.20 and a beta of 1.26. 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’s 50 day moving average is $3.59 and its 200 day moving average is $3.59.

Krispy Kreme (NASDAQ:DNUT) last announced its 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 net margin of 33.36% and a negative return on equity of 4.34%. The business had revenue of $367.03 million for the quarter, compared to the consensus estimate of $359.42 million. During the same period in the prior year, the business posted ($0.05) EPS. Krispy Kreme’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Krispy Kreme, Inc. will post -0.13 earnings per share for the current year.

Insider Buying and Selling at Krispy Kreme

In related news, Director Bernardo Hees acquired 25,002 shares of Krispy Kreme stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $3.49 per share, with a total value of $87,256.98. Following the transaction, the director directly owned 1,574,635 shares in the company, valued at approximately $5,495,476.15. This represents a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 880,190 shares of company stock valued at $2,973,833. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Krispy Kreme

Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. purchased a new stake in shares of Krispy Kreme during the second quarter valued at approximately $32,000. Russell Investments Group Ltd. increased its holdings in shares of Krispy Kreme by 1,229.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock worth $33,000 after purchasing an additional 7,832 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Krispy Kreme in the second quarter worth $34,000. Apollon Wealth Management LLC purchased a new stake in shares of Krispy Kreme during the first quarter valued at $35,000. Finally, Raymond James Financial Inc. bought a new stake in Krispy Kreme in the 2nd quarter worth about $37,000. 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.