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

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

Several other brokerages have also commented on DNUT. JPMorgan Chase & Co. lowered their price objective on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Morgan Stanley lowered Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $12.00 to $6.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $6.21 on Wednesday. The stock has a market cap of $1.06 billion, a P/E ratio of 36.53, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34. The firm’s fifty day simple moving average is $8.90 and its 200 day simple moving average is $10.32. Krispy Kreme has a twelve month low of $5.88 and a twelve month high of $17.84. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.09). The company had revenue of $404.00 million during 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 business’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. As a group, research analysts predict that Krispy Kreme will post 0.07 EPS for the current year.

Krispy Kreme Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s dividend payout ratio is presently 82.35%.

Hedge Funds Weigh In On Krispy Kreme

Several large investors have recently modified their holdings of DNUT. Blue Trust Inc. raised its position in shares of Krispy Kreme by 28.3% in the 3rd quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after purchasing an additional 1,779 shares during the last quarter. Walkner Condon Financial Advisors LLC purchased a new position in shares of Krispy Kreme in the 3rd quarter worth about $346,000. Versor Investments LP purchased a new position in shares of Krispy Kreme in the 3rd quarter worth about $411,000. Sargent Investment Group LLC purchased a new position in Krispy Kreme in the 3rd quarter worth about $215,000. Finally, Connable Office Inc. raised its position in Krispy Kreme by 98.3% in the 3rd quarter. Connable Office Inc. now owns 29,968 shares of the company’s stock worth $322,000 after buying an additional 14,859 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Krispy Kreme Company Profile

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.