OFI Invest Asset Management Acquires Shares of 44,926 Krispy Kreme, Inc. (NASDAQ:DNUT)

OFI Invest Asset Management bought a new position in Krispy Kreme, Inc. (NASDAQ:DNUT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 44,926 shares of the company’s stock, valued at approximately $451,000.

Several other hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Krispy Kreme by 157.1% in the 4th quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock worth $106,130,000 after buying an additional 4,263,574 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Krispy Kreme by 25.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,443 shares of the company’s stock valued at $34,971,000 after acquiring an additional 469,379 shares in the last quarter. Carlyle Group Inc. purchased a new position in Krispy Kreme during the 1st quarter valued at $5,191,000. Bamco Inc. NY increased its position in Krispy Kreme by 2.6% during the 1st quarter. Bamco Inc. NY now owns 9,734,467 shares of the company’s stock valued at $148,305,000 after purchasing an additional 246,600 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Krispy Kreme by 1,058.1% in the 1st quarter. SG Americas Securities LLC now owns 209,100 shares of the company’s stock worth $3,186,000 after purchasing an additional 191,044 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. HSBC raised Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, July 23rd. Bank of America dropped their price target on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. assumed coverage on Krispy Kreme in a report on Monday, June 3rd. They issued an “overweight” rating and a $14.00 price objective for the company. Finally, Truist Financial raised Krispy Kreme from a “hold” rating to a “buy” rating and raised their price objective for the company from $13.00 to $15.00 in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.29.

Krispy Kreme Stock Up 1.5 %

NASDAQ:DNUT traded up $0.16 during trading hours on Friday, reaching $11.09. 1,355,518 shares of the company traded hands, compared to its average volume of 2,318,720. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $10.73 and its two-hundred day moving average price is $12.12. Krispy Kreme, Inc. has a 1 year low of $9.18 and a 1 year high of $17.84. The stock has a market capitalization of $1.87 billion, a P/E ratio of -41.07, a P/E/G ratio of 1.96 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. The firm had revenue of $438.80 million during the quarter, compared to analyst estimates of $435.43 million. During the same quarter in the previous year, the firm earned $0.04 EPS. Krispy Kreme’s quarterly revenue was up 7.3% compared to the same quarter last year. Analysts predict that Krispy Kreme, Inc. will post 0.14 earnings per share for the current year.

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.