Krispy Kreme (NASDAQ:DNUT) Given New $12.00 Price Target at Piper Sandler

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

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley cut 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.13.

Krispy Kreme Trading Down 16.3 %

Shares of DNUT opened at $5.97 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $9.04 and a two-hundred day simple moving average of $10.37. The stock has a market capitalization of $1.01 billion, a P/E ratio of 35.12, a PEG ratio of 3.24 and a beta of 1.34. Krispy Kreme has a twelve month low of $5.95 and a twelve month high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last announced its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The business 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%. Krispy Kreme’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. On average, research analysts anticipate that Krispy Kreme will post 0.07 EPS for the current year.

Krispy Kreme Dividend Announcement

The firm also recently announced 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. This represents a $0.14 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s payout ratio is currently 82.35%.

Institutional Investors Weigh In On Krispy Kreme

Hedge funds have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Krispy Kreme during the 4th quarter worth $10,591,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Krispy Kreme by 13.1% in the fourth 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 acquiring an additional 19,295 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Krispy Kreme by 339.1% during the fourth quarter. Point72 Asset Management L.P. now owns 168,820 shares of the company’s stock worth $1,676,000 after buying an additional 130,374 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of 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 acquiring an additional 7,927 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Krispy Kreme by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,683 shares of the company’s stock valued at $483,000 after buying an additional 1,707 shares in the last quarter. 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.