Krispy Kreme, Inc. (NASDAQ:DNUT) Short Interest Up 28.0% in March

Krispy Kreme, Inc. (NASDAQ:DNUTGet Rating) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 12,130,000 shares, an increase of 28.0% from the March 15th total of 9,480,000 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is currently ∞ days.

Krispy Kreme stock traded up $0.38 during midday trading on Tuesday, reaching $13.97. The stock had a trading volume of 4,699 shares, compared to its average volume of 1,413,278. Krispy Kreme has a twelve month low of $12.63 and a twelve month high of $21.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.30 and a quick ratio of 0.23. The stock’s 50-day simple moving average is $14.27 and its 200 day simple moving average is $14.78.

Krispy Kreme (NASDAQ:DNUTGet Rating) last issued its earnings results on Tuesday, February 22nd. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Krispy Kreme had a negative net margin of 1.77% and a positive return on equity of 2.80%. The firm had revenue of $370.60 million during the quarter, compared to analyst estimates of $363.04 million. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, research analysts anticipate that Krispy Kreme will post 0.28 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 11th. Shareholders of record on Wednesday, April 27th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.00%. The ex-dividend date is Tuesday, April 26th.

A number of equities research analysts have commented on DNUT shares. Bank of America initiated coverage on Krispy Kreme in a report on Tuesday, January 11th. They set a “buy” rating and a $23.00 target price on the stock. Citigroup cut Krispy Kreme from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $16.00 in a report on Monday, April 11th. Morgan Stanley decreased their price objective on Krispy Kreme from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, April 14th. Finally, Zacks Investment Research cut Krispy Kreme from a “hold” rating to a “sell” rating in a report on Wednesday, March 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.65.

In related news, CEO Michael J. Tattersfield bought 9,500 shares of the stock in a transaction on Thursday, March 10th. The shares were purchased at an average price of $13.95 per share, for a total transaction of $132,525.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Large investors have recently added to or reduced their stakes in the business. Moors & Cabot Inc. purchased a new position in Krispy Kreme in the third quarter valued at about $26,000. Advisor Group Holdings Inc. purchased a new position in Krispy Kreme in the third quarter valued at about $47,000. Citigroup Inc. purchased a new position in Krispy Kreme in the third quarter valued at about $55,000. UBS Group AG purchased a new position in Krispy Kreme in the third quarter valued at about $61,000. Finally, Strs Ohio purchased a new position in Krispy Kreme in the third quarter valued at about $70,000. 68.44% of the stock is currently owned by institutional investors.

About Krispy Kreme (Get Rating)

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

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