Krispy Kreme, Inc. (NASDAQ:DNUT) Sees Large Drop in Short Interest

Krispy Kreme, Inc. (NASDAQ:DNUT) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 18,160,000 shares, a decrease of 7.3% from the August 31st total of 19,600,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is presently 10.4 days. Currently, 21.9% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research analysts recently commented on DNUT shares. Evercore ISI reissued an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a research note on Tuesday, August 27th. Truist Financial upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and increased their price target for the company from $13.00 to $15.00 in a research report on Monday, June 10th. HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. assumed coverage on shares of Krispy Kreme in a research report on Monday, June 3rd. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.88.

Krispy Kreme Stock Down 1.6 %

DNUT stock traded down $0.17 during midday trading on Tuesday, hitting $10.57. The company’s stock had a trading volume of 474,520 shares, compared to its average volume of 2,142,388. The company has a market cap of $1.78 billion, a PE ratio of -39.78, a P/E/G ratio of 3.54 and a beta of 1.41. The firm’s 50-day moving average is $11.00 and its 200-day moving average is $11.76. Krispy Kreme has a 12 month low of $9.18 and a 12 month high of $17.84. The company has a current ratio of 0.34, a quick ratio of 0.26 and a debt-to-equity ratio of 0.73.

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

Krispy Kreme Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, October 23rd. Krispy Kreme’s dividend payout ratio is presently -51.85%.

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently modified their holdings of the company. Bamco Inc. NY boosted its stake in Krispy Kreme by 2.6% in the 1st quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock worth $148,305,000 after purchasing an additional 246,600 shares during the period. Vanguard Group Inc. raised its holdings in shares of Krispy Kreme by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock worth $130,237,000 after acquiring an additional 67,130 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Krispy Kreme by 38.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock valued at $40,670,000 after purchasing an additional 1,042,345 shares in the last quarter. Millennium Management LLC increased its position in Krispy Kreme by 136.7% in the second quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock worth $37,669,000 after purchasing an additional 2,021,974 shares during the last quarter. Finally, Samlyn Capital LLC raised its stake in Krispy Kreme by 120.5% during the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after purchasing an additional 1,218,699 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.

Krispy Kreme Company Profile

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.