Krispy Kreme, Inc. (DNUT) to Issue Quarterly Dividend of $0.04 on November 6th

Krispy Kreme, Inc. (NASDAQ:DNUT) declared a quarterly dividend on Friday, September 13th, Zacks reports. Stockholders of record on Wednesday, October 23rd will be given a dividend of 0.035 per share on Wednesday, November 6th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, October 23rd.

Krispy Kreme has a dividend payout ratio of 41.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Krispy Kreme to earn $0.21 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 66.7%.

Krispy Kreme Price Performance

Krispy Kreme stock opened at $11.59 on Monday. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -42.93, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41. The firm has a 50-day moving average of $11.17 and a two-hundred day moving average of $11.49. Krispy Kreme has a 1 year low of $9.18 and a 1 year high of $17.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.34 and a quick ratio of 0.26.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The business had revenue of $438.80 million for the quarter, compared to the consensus estimate of $435.43 million. During the same quarter in the prior year, the company earned $0.04 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. On average, research analysts forecast that Krispy Kreme will post 0.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, July 23rd. Bank of America reduced their price target on shares of Krispy Kreme from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Evercore ISI reiterated an “in-line” rating and set a $13.00 price target on shares of Krispy Kreme in a research note on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.88.

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.