Krispy Kreme (NASDAQ:DNUT) Price Target Lowered to $12.00 at Piper Sandler

Krispy Kreme (NASDAQ:DNUT) had its price objective cut by Piper Sandler from $18.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on DNUT. Morgan Stanley downgraded Krispy Kreme from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $12.00 to $6.00 in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Krispy Kreme currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.13.

Krispy Kreme Price Performance

Shares of NASDAQ:DNUT opened at $6.21 on Wednesday. Krispy Kreme has a fifty-two week low of $5.88 and a fifty-two week high of $17.84. The business has a 50-day simple moving average of $8.90 and a two-hundred day simple moving average of $10.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.28 and a current ratio of 0.35. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm had revenue of $404.00 million for the quarter, compared to the consensus estimate of $413.18 million. Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, analysts expect that Krispy Kreme will post 0.07 earnings per share for the current year.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.25%. Krispy Kreme’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Krispy Kreme during the 4th quarter valued at approximately $10,591,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Krispy Kreme by 13.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 166,373 shares of the company’s stock worth $1,652,000 after purchasing an additional 19,295 shares during the period. Point72 Asset Management L.P. boosted its stake in Krispy Kreme by 339.1% in the 4th quarter. Point72 Asset Management L.P. now owns 168,820 shares of the company’s stock worth $1,676,000 after purchasing an additional 130,374 shares during the period. ProShare Advisors LLC boosted its stake in Krispy Kreme by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 24,094 shares of the company’s stock worth $239,000 after purchasing an additional 7,927 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Krispy Kreme by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company’s stock worth $483,000 after purchasing an additional 1,707 shares during the period. 81.72% of the stock is currently owned by institutional investors.

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.