Krispy Kreme (NASDAQ:DNUT – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.
According to Zacks, “Krispy Kreme Inc., together with its subsidiaries, operates as a branded retailer and wholesaler of doughnuts, coffee and other complementary beverages and treats and packaged sweets. The company operating segments include Company Stores, Domestic Franchise, International Franchise, and KK Supply Chain. Krispy Kreme Inc. is based in NC, United States. “
Several other analysts also recently issued reports on the company. Citigroup downgraded Krispy Kreme from a “buy” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $16.00 in a report on Monday, April 11th. Morgan Stanley lowered their price objective on shares of Krispy Kreme from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, April 14th. Finally, Bank of America started coverage on shares of Krispy Kreme in a research report on Tuesday, January 11th. They set a “buy” rating and a $23.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Krispy Kreme has a consensus rating of “Hold” and an average price target of $17.65.
DNUT stock traded up $0.03 during midday trading on Friday, hitting $14.35. 599,310 shares of the company’s stock were exchanged, compared to its average volume of 1,376,380. Krispy Kreme has a 1-year low of $12.63 and a 1-year high of $21.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.23. The business has a 50-day simple moving average of $14.25 and a two-hundred day simple moving average of $14.78.
Krispy Kreme (NASDAQ:DNUT – Get Rating) last issued its quarterly earnings results on Tuesday, February 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Krispy Kreme had a negative net margin of 1.77% and a positive return on equity of 2.80%. The company had revenue of $370.60 million during the quarter, compared to analyst estimates of $363.04 million. The business’s revenue was up 13.8% on a year-over-year basis. As a group, research analysts anticipate that Krispy Kreme will post 0.28 earnings per share for the current year.
In other news, CEO Michael J. Tattersfield acquired 9,500 shares of the firm’s stock in a transaction dated Thursday, March 10th. The stock was bought at an average price of $13.95 per share, with a total value of $132,525.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.
Several large investors have recently modified their holdings of the company. Bamco Inc. NY acquired a new position in Krispy Kreme during the 3rd quarter worth approximately $42,673,000. FIL Ltd bought a new stake in shares of Krispy Kreme in the 3rd quarter valued at $37,798,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Krispy Kreme in the 3rd quarter valued at $30,629,000. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST bought a new position in Krispy Kreme during the fourth quarter worth $30,529,000. Finally, BlackRock Inc. bought a new position in Krispy Kreme during the third quarter worth $17,561,000. Institutional investors own 68.44% of the company’s stock.
Krispy Kreme Company Profile (Get Rating)
Krispy Kreme, Inc, together with its subsidiaries, operates through an omni-channel business model to provide doughnut experiences and produce doughnuts. The company operates through three segments: U.S. and Canada, International, and Market Development. It also produces cookies, brownies, cookie cakes, ice cream, cookie-wiches, and cold milk, as well as doughnut mixes, other ingredients, and doughnut-making equipment.
Further Reading
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