Krispy Kreme (NASDAQ:DNUT) Updates FY 2022 Earnings Guidance

Krispy Kreme (NASDAQ:DNUTGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.38-$0.41 for the period, compared to the consensus earnings per share estimate of $0.41. The company issued revenue guidance of $1.53 billion-$1.56 billion, compared to the consensus revenue estimate of $1.55 billion.

Several brokerages recently weighed in on DNUT. Citigroup reduced their target price on shares of Krispy Kreme from $16.00 to $15.00 and set a neutral rating on the stock in a report on Thursday, May 12th. Morgan Stanley cut their price objective on shares of Krispy Kreme from $20.00 to $18.00 and set an overweight rating on the stock in a report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Krispy Kreme from $16.00 to $14.00 in a report on Thursday, May 12th. Zacks Investment Research raised shares of Krispy Kreme from a sell rating to a hold rating in a report on Monday, May 16th. Finally, HSBC raised shares of Krispy Kreme from a hold rating to a buy rating and set a $17.00 price objective on the stock in a report on Friday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $17.57.

NASDAQ:DNUT traded up $0.15 during midday trading on Thursday, reaching $14.60. The stock had a trading volume of 21,130 shares, compared to its average volume of 1,234,039. The firm has a fifty day simple moving average of $13.98 and a two-hundred day simple moving average of $14.79. Krispy Kreme has a 12-month low of $11.98 and a 12-month high of $21.69. The company has a quick ratio of 0.22, a current ratio of 0.30 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.44 billion and a P/E ratio of -103.21.

Krispy Kreme (NASDAQ:DNUTGet Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Krispy Kreme had a negative net margin of 1.22% and a positive return on equity of 3.31%. The firm had revenue of $370.60 million during the quarter, compared to analysts’ expectations of $363.04 million. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that Krispy Kreme will post 0.28 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Wednesday, July 27th will be given a $0.035 dividend. The ex-dividend date of this dividend is Tuesday, July 26th. This represents a $0.14 dividend on an annualized basis and a yield of 0.96%. Krispy Kreme’s dividend payout ratio (DPR) is -99.99%.

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

Hedge funds have recently made changes to their positions in the stock. US Bancorp DE acquired a new position in Krispy Kreme in the 1st quarter valued at about $30,000. Advisor Group Holdings Inc. increased its stake in shares of Krispy Kreme by 178.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,330 shares of the company’s stock valued at $65,000 after acquiring an additional 2,777 shares during the last quarter. UBS Group AG acquired a new position in shares of Krispy Kreme during the 3rd quarter valued at about $61,000. Ameritas Investment Partners Inc. increased its stake in shares of Krispy Kreme by 292.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,602 shares of the company’s stock valued at $98,000 after acquiring an additional 4,918 shares during the last quarter. Finally, Royal Bank of Canada acquired a new position in shares of Krispy Kreme during the 3rd quarter valued at about $124,000. 68.82% of the stock is owned by hedge funds and other 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.

Further Reading

Earnings History and Estimates for Krispy Kreme (NASDAQ:DNUT)

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