Krispy Kreme ( NASDAQ:DNUT ) updates FY22 earnings guidance

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Krispy Kreme (NASDAQ:DNUT – Get a score) updated its FY22 earnings guidance on Wednesday. The company provided EPS guidance of $0.29 to $0.32 for the period, compared to the EPS estimate consensus of $0.41. The company issued revenue guidance of $1.49 billion to $1.52 billion, compared to the consensus revenue estimate of $1.56 billion.

Changes in analyst ratings

Several research firms have issued reports on DNUT. HSBC upgraded Krispy Kreme from a hold rating to a buy rating and set a $17.00 target price for the company in a report on Friday, May 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on Krispy Kreme from $16.00 to $14.00 in a report on Thursday, May 12th. Finally, Citigroup reduced their price objective on Krispy Kreme from $16.00 to $15.00 and set a neutral rating for the company in a report on Thursday, May 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Krispy Kreme currently has an average rating of Hold and an average target price of $16.57, according to MarketBeat.com data.

Krispy Kreme Price Performance

Shares of DNUT stock opened at $14.52 on Wednesday. The company has a 50-day moving average price of $13.99 and a 200-day moving average price of $14.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.22, and a current ratio of 0.30. Krispy Kreme has a 12-month low of $11.98 and a 12-month high of $19.55.

Institutional investors weigh in on Krispy Kreme

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Hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Krispy Kreme by 20.2% in the second quarter. State Street Corp now owns 1,421,740 shares of the company’s stock valued at $19,336,000 after buying an additional 239,083 shares during the last quarter. Millennium Management LLC boosted its position in shares of Krispy Kreme by 13.5% during the second quarter. Millennium Management LLC now owns 348,892 shares of the company’s stock valued at $4,745,000 after buying an additional 41,374 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Krispy Kreme during the second quarter valued at approximately $187,000. UBS Asset Management Americas Inc. increased its position in shares of Krispy Kreme by 7.4% during the second quarter. UBS Asset Management Americas Inc. now owns 83,702 shares of the company’s stock valued at $1,138,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Krispy Kreme during the second quarter valued at approximately $151,000. Currently, 68.82% of the shares are owned by institutional investors and hedge funds.

About Krispy Kreme

(Get a score)

Krispy Kreme, Inc., together with its subsidiaries, operates through an omnichannel business model to provide donut experiences and produce doughnuts. The company operates through three segments: US and Canada, International and Market Development. It also produces cookies, brownies, cookie cakes, ice cream, cookies and cold milk, as well as donut mixes, other ingredients and donut making equipment.

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!