Krispy Kreme, Inc. (NASDAQ:DNUT) Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Krispy Kreme, Inc. (NASDAQ:DNUT) by 20.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 546,792 shares of the company’s stock after purchasing an additional 94,000 shares during the quarter. Bank of New York Mellon Corp owned 0.32% of Krispy Kreme worth $5,430,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DNUT. Point72 DIFC Ltd acquired a new position in shares of Krispy Kreme in the third quarter worth about $51,000. Central Pacific Bank Trust Division acquired a new position in Krispy Kreme in the 4th quarter worth about $71,000. First Hawaiian Bank bought a new position in Krispy Kreme during the fourth quarter valued at approximately $111,000. Franklin Resources Inc. lifted its stake in shares of Krispy Kreme by 30.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,467 shares of the company’s stock valued at $158,000 after purchasing an additional 3,395 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Krispy Kreme in the third quarter worth about $278,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial restated a “buy” rating and set a $12.00 price target (down from $15.00) on shares of Krispy Kreme in a report on Wednesday, February 26th. Piper Sandler decreased their price target on shares of Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Morgan Stanley cut Krispy Kreme from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $12.00 to $6.00 in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.13.

Krispy Kreme Stock Performance

Shares of DNUT stock opened at $5.41 on Tuesday. Krispy Kreme, Inc. has a one year low of $5.31 and a one year high of $17.84. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The stock has a market cap of $921.32 million, a P/E ratio of 31.82, a P/E/G ratio of 3.24 and a beta of 1.40. The company has a fifty day moving average price of $8.03 and a two-hundred day moving average price of $9.91.

Krispy Kreme (NASDAQ:DNUT) last posted its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. During the same period in the previous year, the company posted $0.09 EPS. Krispy Kreme’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts predict that Krispy Kreme, Inc. will post 0.07 EPS for the current year.

Krispy Kreme Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, April 23rd. Krispy Kreme’s payout ratio is 700.00%.

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.