Shares of Krispy Kreme, Inc. (NASDAQ:DNUT) have received a consensus rating of “Hold” from analysts, according to a report by MarketBeat Ratings. The assessment comes from twelve ratings firms currently monitoring the company, with two analysts issuing a sell rating, six recommending a hold, and four suggesting a buy. The average twelve-month price target for the stock is set at $5.51.
Several research firms have recently released reports impacting the stock’s forecast. On December 29, 2023, Weiss Ratings reiterated a “sell (d)” rating for Krispy Kreme. In October, Capital One Financial reduced its price target from $6.00 to $4.00, maintaining an “equal weight” rating. Additionally, Wall Street Zen downgraded the stock from “hold” to “sell” on January 3, while Zacks Research upgraded it from “strong sell” to “hold” on December 22. Singular Research also modified its rating to “moderate buy” in a note on October 22.
Krispy Kreme shares opened at $4.28 on the trading floor, reflecting a slight increase of 0.2%. The company currently carries a market capitalization of $733.16 million, a debt-to-equity ratio of 1.31, and a price-to-earnings ratio of -1.43. Its trading history shows a one-year low of $2.50 and a high of $9.56. The fifty-day moving average stands at $4.15, while the 200-day moving average is $3.69.
Krispy Kreme’s last earnings report, released on November 6, 2023, revealed a profit of $0.01 earnings per share, surpassing analysts’ expectations of a loss of $0.06 by $0.07. The company reported a revenue of $375.30 million, which fell short of the consensus estimate of $378.29 million. Year-over-year, quarterly revenue decreased by 1.2%, with the previous year reflecting earnings of ($0.01) per share. Analysts forecast that Krispy Kreme will achieve an earnings per share of $0.07 for the current financial year.
In recent months, hedge funds have made notable adjustments to their holdings in Krispy Kreme. Pacific Point Advisors LLC acquired a new position valued at approximately $341,000, while Counterpoint Mutual Funds LLC invested about $333,000 in the second quarter. XTX Topco Ltd increased its stake significantly by 452.4%, now holding 340,289 shares valued at $990,000. Federated Hermes Inc. also boosted its position by 78.9%, owning 3,007,345 shares worth $8.75 million. Collectively, institutional investors now hold 81.72% of the company’s stock.
Founded in 1937 in Winston-Salem, North Carolina by Vernon Rudolph, Krispy Kreme has evolved from a local shop to a global brand, renowned for its signature Original Glazed doughnut and a diverse range of sweet treats. The company operates through a combination of company-owned stores, franchise outlets, and strategic partnerships with supermarkets and other foodservice channels. Beyond its doughnut offerings, Krispy Kreme provides freshly brewed coffee and seasonal items aimed at attracting customers and fostering brand loyalty.
