Krispy Kreme (NASDAQ:DNUT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Krispy Kreme (NASDAQ:DNUTGet Rating) from a sell rating to a hold rating in a research note released on Monday, 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. “

A number of other research firms also recently commented on DNUT. Citigroup lowered their target price on Krispy Kreme from $16.00 to $15.00 and set a neutral rating for the company in a research report on Thursday, May 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Krispy Kreme from $16.00 to $14.00 in a research report on Thursday, May 12th. Morgan Stanley decreased their price target on Krispy Kreme from $20.00 to $18.00 and set an overweight rating on the stock in a report on Thursday, April 14th. Finally, HSBC upgraded Krispy Kreme from a hold rating to a buy rating and set a $17.00 price target on the stock in a report on Friday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $17.57.

DNUT stock opened at $14.49 on Monday. Krispy Kreme has a 1-year low of $11.98 and a 1-year high of $21.69. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.30 and a quick ratio of 0.22. The company has a market capitalization of $2.42 billion and a price-to-earnings ratio of -103.49. The business has a 50 day simple moving average of $13.98 and a two-hundred day simple moving average of $14.78.

Krispy Kreme (NASDAQ:DNUTGet Rating) last posted its earnings results on Tuesday, February 22nd. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $370.60 million for the quarter, compared to the consensus estimate of $363.04 million. Krispy Kreme had a negative net margin of 1.22% and a positive return on equity of 3.31%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Sell-side analysts anticipate that Krispy Kreme will post 0.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Wednesday, July 27th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Tuesday, July 26th. This represents a $0.14 annualized dividend and a dividend yield of 0.97%. Krispy Kreme’s dividend payout ratio is currently -99.99%.

In other news, CEO Michael J. Tattersfield purchased 9,500 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were purchased at an average price of $13.95 per share, for a total transaction of $132,525.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

A number of hedge funds have recently modified their holdings of DNUT. Moors & Cabot Inc. bought a new stake in Krispy Kreme during the third quarter valued at about $26,000. US Bancorp DE bought a new stake in Krispy Kreme during the first quarter valued at about $30,000. First Quadrant LLC CA bought a new stake in Krispy Kreme during the first quarter valued at about $37,000. Advisor Group Holdings Inc. bought a new stake in Krispy Kreme during the third quarter valued at about $47,000. Finally, Citigroup Inc. acquired a new stake in Krispy Kreme in the third quarter worth about $55,000. 68.82% of the stock is currently owned by institutional investors.

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.

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