Insider Buying: Krispy Kreme (NASDAQ:DNUT) Director Purchases $74,745.32 in Stock

Krispy Kreme, Inc. (NASDAQ:DNUT) Director Bernardo Hees purchased 22,114 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were purchased at an average price of $3.38 per share, for a total transaction of $74,745.32. Following the acquisition, the director directly owned 718,533 shares of the company’s stock, valued at $2,428,641.54. This trade represents a 3.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bernardo Hees also recently made the following trade(s):

• On Thursday, May 28th, Bernardo Hees purchased 200,989 shares of Krispy Kreme stock. The shares were purchased at an average price of $3.42 per share, for a total transaction of $687,382.38.
• On Tuesday, May 26th, Bernardo Hees purchased 1,974 shares of Krispy Kreme stock. The shares were purchased at an average price of $3.30 per share, for a total transaction of $6,514.20.

Krispy Kreme Stock Up 2.9%

DNUT stock opened at $3.52 on Friday. Krispy Kreme, Inc. has a 52-week low of $2.50 and a 52-week high of $5.73. The company’s 50 day simple moving average is $3.49 and its 200-day simple moving average is $3.66. 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 has a market capitalization of $606.85 million, a P/E ratio of -1.18 and a beta of 1.32.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) 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 firm had revenue of $367.03 million for the quarter, compared to analyst estimates of $359.42 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Krispy Kreme, Inc. will post -0.07 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Divisadero Street Capital Management LP increased its stake in Krispy Kreme by 117.9% in the 3rd quarter. Divisadero Street Capital Management LP now owns 1,089,341 shares of the company’s stock valued at $4,216,000 after buying an additional 589,341 shares during the period. Trustees of the University of Pennsylvania acquired a new position in shares of Krispy Kreme during the 4th quarter worth $8,077,000. Alpine Global Management LLC acquired a new position in shares of Krispy Kreme during the 4th quarter worth $92,000. Ground Swell Capital LLC acquired a new position in shares of Krispy Kreme during the 4th quarter worth $67,000. Finally, R Squared Ltd increased its stake in shares of Krispy Kreme by 61.7% during the 4th quarter. R Squared Ltd now owns 22,983 shares of the company’s stock worth $92,000 after purchasing an additional 8,767 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Zacks Research lowered shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Krispy Kreme in a research note on Friday, March 27th. Finally, Capital One Financial upgraded shares of Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective on the stock in a research note on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Krispy Kreme presently has a consensus rating of “Hold” and a consensus target price of $4.63.

About Krispy Kreme

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.