Krispy Kreme (NASDAQ:DNUT) Trading Up 8.8% – What’s Next?

Krispy Kreme, Inc. (NASDAQ:DNUT) shares rose 8.8% during mid-day trading on Wednesday . The company traded as high as $3.69 and last traded at $3.7550. 636,481 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 2,420,727 shares. The stock had previously closed at $3.45.

Wall Street Analysts Forecast Growth

DNUT has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Krispy Kreme in a research report on Friday, March 27th. Capital One Financial raised shares of Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price target on the stock in a report on Thursday, March 26th. Zacks Research downgraded shares of Krispy Kreme from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Krispy Kreme from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Three 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 company. Based on data from MarketBeat.com, Krispy Kreme has an average rating of “Hold” and a consensus target price of $4.62.

Krispy Kreme Stock Performance

The company has a current ratio of 0.42, a quick ratio of 0.36 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $650.81 million, a price-to-earnings ratio of -1.26 and a beta of 1.27. The company has a 50-day moving average of $3.59 and a 200-day moving average of $3.62.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Krispy Kreme had a negative return on equity of 4.34% and a negative net margin of 33.36%.The business had revenue of $367.03 million during the quarter, compared to analyst estimates of $359.42 million. During the same period in the prior year, the firm earned ($0.05) EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Krispy Kreme, Inc. will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Krispy Kreme

In other Krispy Kreme news, Director Bernardo Hees purchased 235,875 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average cost of $3.39 per share, with a total value of $799,616.25. Following the acquisition, the director owned 1,229,037 shares of the company’s stock, valued at approximately $4,166,435.43. This represents a 23.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 880,190 shares of company stock valued at $2,973,833. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Krispy Kreme

Institutional investors have recently made changes to their positions in the stock. R Squared Ltd lifted its holdings in shares of Krispy Kreme by 33.4% in the 3rd quarter. R Squared Ltd now owns 14,216 shares of the company’s stock worth $55,000 after purchasing an additional 3,556 shares during the last quarter. Deutsche Bank AG grew its stake in Krispy Kreme by 4.5% during the 4th quarter. Deutsche Bank AG now owns 83,611 shares of the company’s stock worth $336,000 after buying an additional 3,638 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Krispy Kreme by 1,229.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock worth $33,000 after buying an additional 7,832 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Krispy Kreme by 21.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,672 shares of the company’s stock worth $192,000 after buying an additional 8,351 shares during the period. Finally, Raymond James Financial Inc. increased its position in Krispy Kreme by 69.1% in the third quarter. Raymond James Financial Inc. now owns 21,287 shares of the company’s stock worth $82,000 after buying an additional 8,701 shares during the period. 81.72% of the stock is owned by institutional investors.

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.