Krispy Kreme, Inc. Announces Quarterly Dividend of $0.04 (NASDAQ:DNUT)

Krispy Kreme, Inc. (NASDAQ:DNUT) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Wednesday, July 24th will be paid a dividend of 0.035 per share on Wednesday, August 7th. This represents a $0.14 annualized dividend and a yield of 1.11%. The ex-dividend date is Wednesday, July 24th.

Krispy Kreme has a payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Krispy Kreme to earn $0.30 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 46.7%.

Krispy Kreme Stock Performance

Shares of Krispy Kreme stock traded up $0.13 during trading hours on Thursday, reaching $12.62. The company’s stock had a trading volume of 280,358 shares, compared to its average volume of 2,328,624. The firm has a 50 day moving average price of $13.47 and a 200-day moving average price of $13.51. Krispy Kreme has a one year low of $11.52 and a one year high of $17.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.26 and a current ratio of 0.33.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $450.90 million for the quarter, compared to the consensus estimate of $438.95 million. Krispy Kreme had a negative net margin of 2.25% and a positive return on equity of 2.02%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities research analysts anticipate that Krispy Kreme will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DNUT has been the subject of a number of analyst reports. Piper Sandler raised shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and increased their target price for the company from $14.00 to $20.00 in a research report on Friday, April 5th. Capital One Financial started coverage on shares of Krispy Kreme in a research note on Monday, January 22nd. They issued an “equal weight” rating and a $16.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 19th. Bank of America raised their price target on shares of Krispy Kreme from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Citigroup raised their price target on shares of Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Krispy Kreme presently has a consensus rating of “Hold” and a consensus price target of $16.31.

Insider Buying and Selling at Krispy Kreme

In related news, Director Michael J. Tattersfield sold 100,000 shares of Krispy Kreme stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $12.82, for a total value of $1,282,000.00. Following the completion of the transaction, the director now owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.00% 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.