Krispy Kreme (NASDAQ:DNUT) Given New $16.00 Price Target at Bank of America

Krispy Kreme (NASDAQ:DNUT) had its target price upped by stock analysts at Bank of America from $15.00 to $16.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 37.69% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Evercore ISI reiterated an “in-line” rating and set a $13.00 price target on shares of Krispy Kreme in a report on Tuesday, August 27th. Hsbc Global Res raised shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, HSBC raised shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.88.

Krispy Kreme Stock Up 1.3 %

NASDAQ:DNUT traded up $0.15 on Tuesday, hitting $11.62. The stock had a trading volume of 359,931 shares, compared to its average volume of 2,071,898. The business’s fifty day moving average is $11.19 and its 200 day moving average is $11.47. Krispy Kreme has a 52 week low of $9.18 and a 52 week high of $17.84. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.96 billion, a PE ratio of -43.04, a P/E/G ratio of 3.15 and a beta of 1.41.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $438.80 million for the quarter, compared to analyst estimates of $435.43 million. Krispy Kreme had a negative net margin of 2.98% and a positive return on equity of 1.12%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. On average, equities research analysts expect that Krispy Kreme will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Krispy Kreme

Several institutional investors have recently added to or reduced their stakes in DNUT. Bamco Inc. NY raised its position in shares of Krispy Kreme by 2.6% in the first 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. Vanguard Group Inc. raised its holdings in Krispy Kreme by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,548,548 shares of the company’s stock valued at $130,237,000 after acquiring an additional 67,130 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Krispy Kreme by 38.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,779,882 shares of the company’s stock worth $40,670,000 after acquiring an additional 1,042,345 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Krispy Kreme by 136.7% in the second quarter. Millennium Management LLC now owns 3,500,855 shares of the company’s stock worth $37,669,000 after acquiring an additional 2,021,974 shares during the period. Finally, Samlyn Capital LLC grew its position in shares of Krispy Kreme by 120.5% in the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock valued at $23,997,000 after purchasing an additional 1,218,699 shares in the last quarter. 81.72% of the stock is owned by hedge funds and other institutional investors.

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.