Carlyle Group Inc. Buys Shares of 340,748 Krispy Kreme, Inc. $DNUT

Carlyle Group Inc. purchased a new stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) in the second quarter, according to its most recent filing with the SEC. The firm purchased 340,748 shares of the company’s stock, valued at approximately $1,203,000. Krispy Kreme accounts for about 0.0% of Carlyle Group Inc.’s portfolio, making the stock its 12th largest position.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Krispy Kreme in the 2nd quarter valued at approximately $23,353,000. Federated Hermes Inc. raised its holdings in Krispy Kreme by 42.4% during the fourth 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. Marshall Wace LLP purchased a new stake in Krispy Kreme during the third quarter worth $11,704,000. Balyasny Asset Management L.P. boosted its position in Krispy Kreme by 419.2% during the third 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Krispy Kreme by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 2,231,100 shares of the company’s stock valued at $8,971,000 after purchasing an additional 153,645 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DNUT. Zacks Research cut Krispy Kreme from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Weiss Ratings lowered shares of Krispy Kreme from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Evercore set a $4.00 price objective on shares of Krispy Kreme in a research note on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Krispy Kreme from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $4.33.

Krispy Kreme Price Performance

DNUT stock opened at $3.20 on Tuesday. The stock’s 50 day moving average price is $3.43 and its 200 day moving average price is $3.41. The firm has a market cap of $551.68 million, a P/E ratio of -5.71 and a beta of 1.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.29 and a current ratio of 0.36. Krispy Kreme, Inc. has a 1 year low of $2.88 and a 1 year high of $5.11.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Krispy Kreme had a negative return on equity of 1.17% and a negative net margin of 6.16%.The company had revenue of $331.00 million during the quarter, compared to the consensus estimate of $303.35 million. During the same quarter last year, the business posted ($0.15) earnings per share. Krispy Kreme’s revenue was down 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Krispy Kreme, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Krispy Kreme

In related news, Director Bernardo Hees acquired 25,002 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $3.49 per share, with a total value of $87,256.98. Following the completion of the purchase, the director directly owned 1,574,635 shares in the company, valued at approximately $5,495,476.15. The trade was a 1.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 880,190 shares of company stock worth $2,973,833 over the last quarter. 1.60% of the stock is owned by company insiders.

Krispy Kreme 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.