Bank of America Boosts Krispy Kreme (NASDAQ:DNUT) Price Target to $16.00

Krispy Kreme (NASDAQ:DNUT) had its price objective upped by Bank of America from $15.00 to $16.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on DNUT. Evercore ISI reaffirmed an “in-line” rating and set a $13.00 target price on shares of Krispy Kreme in a report on Tuesday, August 27th. 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. Finally, HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Krispy Kreme has a consensus rating of “Moderate Buy” and an average target price of $15.88.

Krispy Kreme Stock Up 1.8 %

DNUT opened at $11.64 on Tuesday. The firm has a market cap of $1.96 billion, a P/E ratio of -43.11, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41. 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 business has a 50 day moving average price of $11.25 and a 200 day moving average price of $11.44. Krispy Kreme has a twelve month low of $9.18 and a twelve month high of $17.84.

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

Krispy Kreme Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Wednesday, October 23rd. Krispy Kreme’s payout ratio is -51.85%.

Hedge Funds Weigh In On Krispy Kreme

A number of hedge funds have recently added to or reduced their stakes in DNUT. SG Americas Securities LLC lifted its position in shares of Krispy Kreme by 1,058.1% during the 1st quarter. SG Americas Securities LLC now owns 209,100 shares of the company’s stock valued at $3,186,000 after buying an additional 191,044 shares during the last quarter. Capstone Investment Advisors LLC grew its holdings in shares of Krispy Kreme by 226.1% in the first quarter. Capstone Investment Advisors LLC now owns 172,339 shares of the company’s stock worth $2,626,000 after purchasing an additional 119,486 shares during the last quarter. Samlyn Capital LLC raised its stake in shares of 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 acquiring an additional 1,218,699 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Krispy Kreme in the 1st quarter worth approximately $246,000. Finally, Driehaus Capital Management LLC increased its position in Krispy Kreme by 121.7% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock valued at $12,814,000 after purchasing an additional 653,637 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.

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.