Krispy Kreme (NASDAQ:DNUT) Lifted to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Krispy Kreme (NASDAQ:DNUT) from a hold rating to a strong-buy rating in a report issued on Tuesday morning, Zacks.com reports.

Several other brokerages also recently issued reports on DNUT. Truist Financial upgraded Krispy Kreme from a hold rating to a buy rating and lifted their price objective for the stock from $13.00 to $15.00 in a research report on Monday, June 10th. Piper Sandler upgraded Krispy Kreme from a neutral rating to an overweight rating and lifted their price objective for the stock from $14.00 to $20.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. began coverage on Krispy Kreme in a research report on Monday, June 3rd. They set an overweight rating and a $14.00 price objective for the company. Citigroup lifted their target price on shares of Krispy Kreme from $14.00 to $19.00 and gave the stock a neutral rating in a research note on Wednesday, March 27th. Finally, HSBC raised shares of Krispy Kreme from a hold rating to a buy rating and set a $14.00 target price for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $16.25.

Krispy Kreme Trading Up 2.7 %

Shares of Krispy Kreme stock opened at $10.84 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.27. Krispy Kreme has a 1 year low of $9.70 and a 1 year high of $17.84. The company has a market capitalization of $1.83 billion, a P/E ratio of -40.15, a P/E/G ratio of 1.80 and a beta of 1.41. The business has a 50 day moving average price of $10.91 and a 200 day moving average price of $12.52.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. The firm had revenue of $442.70 million during the quarter, compared to the consensus estimate of $433.87 million. Sell-side analysts anticipate that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Krispy Kreme Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be paid a dividend of $0.035 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.14 annualized dividend and a dividend yield of 1.29%. Krispy Kreme’s dividend payout ratio is presently -51.85%.

Institutional Trading of Krispy Kreme

Several institutional investors have recently made changes to their positions in the stock. Natixis Advisors L.P. grew its stake in shares of Krispy Kreme by 4.9% during the 4th quarter. Natixis Advisors L.P. now owns 25,248 shares of the company’s stock valued at $380,000 after buying an additional 1,181 shares during the period. ProShare Advisors LLC grew its stake in shares of Krispy Kreme by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 15,739 shares of the company’s stock valued at $240,000 after buying an additional 1,239 shares during the period. Connable Office Inc. grew its stake in shares of Krispy Kreme by 15.8% during the 4th quarter. Connable Office Inc. now owns 15,109 shares of the company’s stock valued at $228,000 after buying an additional 2,058 shares during the period. Truist Financial Corp grew its stake in shares of Krispy Kreme by 3.0% during the 4th quarter. Truist Financial Corp now owns 92,719 shares of the company’s stock valued at $1,399,000 after buying an additional 2,701 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Krispy Kreme by 3.4% during the 1st quarter. California State Teachers Retirement System now owns 84,610 shares of the company’s stock valued at $1,289,000 after acquiring an additional 2,769 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.

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.