Krispy Kreme (NASDAQ:DNUT) Price Target Raised to $19.00 at Citigroup

Krispy Kreme (NASDAQ:DNUT) had its price objective lifted by Citigroup from $14.00 to $19.00 in a research note released on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

DNUT has been the subject of a number of other research reports. Capital One Financial initiated coverage on shares of Krispy Kreme in a report on Monday, January 22nd. They issued an equal weight rating and a $16.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set a neutral rating for the company in a report on Tuesday, March 19th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $16.06.

Krispy Kreme Price Performance

Shares of DNUT opened at $15.24 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26. The stock has a market cap of $2.57 billion, a PE ratio of -69.25, a P/E/G ratio of 3.74 and a beta of 1.43. The firm has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $13.28. Krispy Kreme has a 1-year low of $11.52 and a 1-year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $450.90 million during the quarter, compared to analyst estimates of $438.95 million. Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. As a group, analysts forecast that Krispy Kreme will post 0.17 EPS for the current year.

Krispy Kreme Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 0.92%. Krispy Kreme’s dividend payout ratio is currently -63.64%.

Insider Buying and Selling

In other news, Director Michael J. Tattersfield sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $12.82, for a total transaction of $1,282,000.00. Following the completion of the sale, the director now owns 2,936,940 shares in the company, valued at approximately $37,651,570.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.00% of the stock is owned by insiders.

Institutional Trading of Krispy Kreme

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Krispy Kreme by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,481,418 shares of the company’s stock worth $127,985,000 after buying an additional 58,222 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Krispy Kreme by 23.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 121,086 shares of the company’s stock valued at $1,827,000 after purchasing an additional 23,179 shares during the last quarter. GSA Capital Partners LLP raised its position in Krispy Kreme by 187.7% in the 4th quarter. GSA Capital Partners LLP now owns 32,338 shares of the company’s stock valued at $488,000 after purchasing an additional 21,099 shares during the last quarter. Barclays PLC raised its position in Krispy Kreme by 364.5% in the 4th quarter. Barclays PLC now owns 135,341 shares of the company’s stock valued at $2,043,000 after purchasing an additional 106,207 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Krispy Kreme by 1.1% in the 4th quarter. Nuveen Asset Management LLC now owns 230,569 shares of the company’s stock valued at $3,479,000 after purchasing an additional 2,464 shares during the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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.