Piper Sandler Has Lowered Expectations for Krispy Kreme (NASDAQ:DNUT) Stock Price

Krispy Kreme (NASDAQ:DNUT) had its price target dropped by investment analysts at Piper Sandler from $18.00 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 93.55% from the company’s previous close.

DNUT has been the topic of several other research reports. JPMorgan Chase & Co. lowered their price target on shares of Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley cut shares of Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $12.00 to $6.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Krispy Kreme has an average rating of “Moderate Buy” and an average price target of $13.13.

Krispy Kreme Trading Up 3.9 %

NASDAQ:DNUT opened at $6.20 on Wednesday. Krispy Kreme has a one year low of $5.88 and a one year high of $17.84. The business has a fifty day moving average price of $8.97 and a 200-day moving average price of $10.34. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 36.47, a price-to-earnings-growth ratio of 3.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (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 company had revenue of $404.00 million for the quarter, compared to the consensus estimate of $413.18 million. During the same period in the prior year, the firm posted $0.09 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts forecast that Krispy Kreme will post 0.07 EPS for the current year.

Institutional Investors Weigh In On Krispy Kreme

A number of hedge funds have recently made changes to their positions in DNUT. BNP Paribas Financial Markets purchased a new stake in shares of Krispy Kreme during the 4th quarter worth approximately $152,305,000. Bamco Inc. NY increased its position in Krispy Kreme by 24.7% in the fourth quarter. Bamco Inc. NY now owns 13,069,717 shares of the company’s stock worth $129,782,000 after purchasing an additional 2,588,398 shares during the last quarter. Cooper Creek Partners Management LLC raised its stake in Krispy Kreme by 43.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 7,264,760 shares of the company’s stock valued at $72,139,000 after purchasing an additional 2,186,136 shares in the last quarter. Banco Santander S.A. lifted its position in Krispy Kreme by 0.3% during the third quarter. Banco Santander S.A. now owns 6,916,972 shares of the company’s stock valued at $74,288,000 after purchasing an additional 21,723 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Krispy Kreme by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,191,111 shares of the company’s stock valued at $41,614,000 after purchasing an additional 333,764 shares during the last quarter. 81.72% of the stock is currently 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.