Bank of America Has Lowered Expectations for Krispy Kreme (NASDAQ:DNUT) Stock Price

Krispy Kreme (NASDAQ:DNUT) had its target price lowered by Bank of America from $7.00 to $6.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 92.00% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Citigroup dropped their price objective on Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating for the company in a report on Friday, May 9th. Truist Financial cut Krispy Kreme from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Morgan Stanley dropped their price objective on Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Krispy Kreme in a research note on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.89.

Krispy Kreme Trading Up 0.5%

Shares of DNUT traded up $0.02 during mid-day trading on Friday, reaching $3.13. 195,473 shares of the company’s stock traded hands, compared to its average volume of 2,785,020. Krispy Kreme has a 12 month low of $2.50 and a 12 month high of $12.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.35 and a quick ratio of 0.28. The stock has a market cap of $533.31 million, a P/E ratio of -24.04 and a beta of 1.29. The stock’s 50-day moving average is $2.97 and its two-hundred day moving average is $5.39.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). Krispy Kreme had a negative return on equity of 2.13% and a negative net margin of 1.36%. The company had revenue of $375.18 million during the quarter, compared to analysts’ expectations of $383.97 million. During the same quarter in the previous year, the business earned $0.07 EPS. Krispy Kreme’s revenue was down 15.2% compared to the same quarter last year. Research analysts forecast that Krispy Kreme will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Krispy Kreme

In other Krispy Kreme news, major shareholder Indulgence B.V. Jab sold 694,445 shares of the stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $4.32, for a total transaction of $3,000,002.40. Following the sale, the insider owned 74,190,990 shares of the company’s stock, valued at approximately $320,505,076.80. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spartan Fund Management Inc. boosted its position in Krispy Kreme by 150.0% during the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after acquiring an additional 3,000 shares in the last quarter. GAMMA Investing LLC boosted its position in Krispy Kreme by 1,440.9% during the 1st quarter. GAMMA Investing LLC now owns 9,338 shares of the company’s stock valued at $46,000 after acquiring an additional 8,732 shares in the last quarter. Malaga Cove Capital LLC purchased a new stake in shares of Krispy Kreme during the 1st quarter valued at $51,000. Teacher Retirement System of Texas acquired a new stake in shares of Krispy Kreme in the 1st quarter worth $61,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Krispy Kreme in the 4th quarter worth $128,000. Institutional investors own 81.72% of the company’s stock.

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.