Chesapeake Capital Corp IL Takes $495,000 Position in Krispy Kreme, Inc. (NASDAQ:DNUT)

Chesapeake Capital Corp IL purchased a new position in Krispy Kreme, Inc. (NASDAQ:DNUT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,497 shares of the company’s stock, valued at approximately $495,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in Krispy Kreme in the fourth quarter worth approximately $157,000. Armistice Capital LLC acquired a new position in Krispy Kreme in the 4th quarter worth approximately $170,000. Sciencast Management LP acquired a new position in Krispy Kreme in the 1st quarter worth approximately $223,000. Handelsbanken Fonder AB acquired a new position in Krispy Kreme in the 4th quarter worth approximately $225,000. Finally, Connable Office Inc. boosted its stake in Krispy Kreme by 15.8% in the 4th quarter. Connable Office Inc. now owns 15,109 shares of the company’s stock worth $228,000 after purchasing an additional 2,058 shares during the period. Institutional investors and hedge funds own 81.72% of the company’s stock.

Krispy Kreme Trading Down 0.6 %

Shares of NASDAQ:DNUT traded down $0.07 during trading on Friday, reaching $11.19. 1,133,533 shares of the company traded hands, compared to its average volume of 2,114,222. The firm has a fifty day simple moving average of $11.01 and a 200 day simple moving average of $12.61. Krispy Kreme, Inc. has a 1-year low of $9.70 and a 1-year high of $17.84. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Krispy Kreme had a negative net margin of 2.70% and a positive return on equity of 1.40%. The business had revenue of $442.70 million during the quarter, compared to analyst estimates of $433.87 million. Analysts predict that Krispy Kreme, Inc. will post 0.16 EPS for the current fiscal year.

Krispy Kreme Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.14 annualized dividend and a dividend yield of 1.25%. Krispy Kreme’s payout ratio is -51.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $15.00 in a research note on Monday, June 10th. Citigroup raised their price objective on shares of Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. assumed coverage on shares of Krispy Kreme in a research note on Monday, June 3rd. They issued an “overweight” rating and a $14.00 price objective for the company. Piper Sandler raised shares of Krispy Kreme from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $14.00 to $20.00 in a research note on Friday, April 5th. Finally, Bank of America decreased their target price on shares of Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Krispy Kreme has a consensus rating of “Moderate Buy” and an average price target of $16.31.

Krispy Kreme 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.