Krispy Kreme (NASDAQ:DNUT) Reaches New 1-Year Low – Here’s Why

Krispy Kreme, Inc. (NASDAQ:DNUT)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.85 and last traded at $5.99, with a volume of 293175 shares traded. The stock had previously closed at $6.11.

Wall Street Analysts Forecast Growth

DNUT has been the topic of several research reports. Truist Financial restated a “buy” rating and issued a $12.00 target price (down previously from $15.00) on shares of Krispy Kreme in a research note on Wednesday, February 26th. Morgan Stanley cut shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $12.00 to $6.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Piper Sandler cut their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Krispy Kreme has an average rating of “Moderate Buy” and an average price target of $13.13.

Krispy Kreme Stock Performance

The company has a market capitalization of $1.04 billion, a P/E ratio of 35.97, a PEG ratio of 3.24 and a beta of 1.34. The stock’s fifty day moving average price is $8.84 and its 200-day moving average price is $10.28. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The business had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. During the same quarter in the prior year, the company earned $0.09 EPS. Krispy Kreme’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that Krispy Kreme, Inc. will post 0.07 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a $0.035 dividend. The ex-dividend date is Wednesday, April 23rd. This represents a $0.14 annualized dividend and a dividend yield of 2.29%. Krispy Kreme’s dividend payout ratio is currently 700.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Spartan Fund Management Inc. boosted its holdings in shares of Krispy Kreme by 150.0% during the fourth quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock worth $50,000 after acquiring an additional 3,000 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Krispy Kreme during the 3rd quarter worth approximately $51,000. Central Pacific Bank Trust Division bought a new stake in shares of Krispy Kreme during the 4th quarter worth $71,000. First Hawaiian Bank acquired a new stake in Krispy Kreme in the fourth quarter valued at approximately $111,000. Finally, Ameriprise Financial Inc. acquired a new stake in Krispy Kreme during the 4th quarter worth approximately $128,000. Institutional investors and hedge funds 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.