Krispy Kreme, Inc. (NASDAQ:DNUT) Short Interest Up 10.2% in August

Krispy Kreme, Inc. (NASDAQ:DNUT) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 19,600,000 shares, an increase of 10.2% from the August 15th total of 17,790,000 shares. Approximately 23.8% of the shares of the company are sold short. Based on an average daily volume of 1,910,000 shares, the short-interest ratio is currently 10.3 days.

Institutional Trading of Krispy Kreme

A number of hedge funds and other institutional investors have recently bought and sold shares of DNUT. Point72 Asset Management L.P. grew its position in shares of Krispy Kreme by 8.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 47,294 shares of the company’s stock valued at $509,000 after purchasing an additional 3,794 shares in the last quarter. Driehaus Capital Management LLC grew its position in Krispy Kreme by 121.7% during the second quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock worth $12,814,000 after buying an additional 653,637 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Krispy Kreme by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 50,819 shares of the company’s stock worth $547,000 after buying an additional 1,399 shares in the last quarter. Millennium Management LLC increased its stake in Krispy Kreme by 136.7% in the 2nd quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock worth $37,669,000 after acquiring an additional 2,021,974 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Krispy Kreme in the 2nd quarter valued at about $18,765,000. Institutional investors own 81.72% of the company’s stock.

Krispy Kreme Stock Performance

DNUT stock traded down $0.20 during midday trading on Wednesday, reaching $12.20. 1,080,360 shares of the company’s stock traded hands, compared to its average volume of 2,185,991. Krispy Kreme has a 52 week low of $9.18 and a 52 week high of $17.84. The company has a 50-day moving average price of $10.88 and a two-hundred day moving average price of $11.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.26 and a current ratio of 0.34. The firm has a market capitalization of $2.06 billion, a PE ratio of -45.19, a price-to-earnings-growth ratio of 3.42 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $438.80 million for the quarter, compared to analysts’ expectations of $435.43 million. Krispy Kreme had a positive return on equity of 1.12% and a negative net margin of 2.98%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 EPS. As a group, equities analysts anticipate that Krispy Kreme will post 0.13 EPS for the current year.

Krispy Kreme Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $0.035 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.15%. Krispy Kreme’s dividend payout ratio (DPR) is currently -51.85%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on DNUT shares. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, July 23rd. Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Truist Financial raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $15.00 in a report on Monday, June 10th. Bank of America reduced their price objective on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. began coverage on Krispy Kreme in a research report on Monday, June 3rd. They issued an “overweight” rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.88.

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.