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
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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