Krispy Kreme (DNUT) to Release Quarterly Earnings on Thursday

Posted by Defense World Staff on May 4th, 2023

Krispy Kreme (NASDAQ:DNUT – Get Rating) will be issuing its quarterly earnings data before the market opens on Thursday, May 11th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Krispy Kreme has set its FY23 guidance at $0.31-0.34 EPS and its FY 2023 guidance at $0.31-$0.34 EPS.Parties that wish to register for the company’s conference call can do so using this link.

Krispy Kreme (NASDAQ:DNUT – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Krispy Kreme had a positive return on equity of 1.58% and a negative net margin of 1.02%. The firm had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $394.65 million. During the same quarter last year, the business earned $0.05 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts expect Krispy Kreme to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Krispy Kreme Stock Performance

Krispy Kreme stock opened at $14.71 on Thursday. The business’s 50-day moving average price is $14.61 and its two-hundred day moving average price is $13.61. Krispy Kreme has a 12-month low of $10.21 and a 12-month high of $16.06. The stock has a market cap of $2.47 billion, a PE ratio of -147.10, a P/E/G ratio of 3.01 and a beta of 1.74. The company has a quick ratio of 0.26, a current ratio of 0.35 and a debt-to-equity ratio of 0.57.

Krispy Kreme Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. Stockholders of record on Wednesday, April 26th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, April 25th. Krispy Kreme’s payout ratio is -140.00%.

Institutional Investors Weigh In On Krispy Kreme

Several institutional investors have recently bought and sold shares of DNUT. BlackRock Inc. grew its holdings in Krispy Kreme by 177.4% during the first quarter. BlackRock Inc. now owns 4,543,907 shares of the company’s stock worth $67,477,000 after buying an additional 2,905,778 shares in the last quarter. Vanguard Group Inc. grew its holdings in Krispy Kreme by 91.7% during the first quarter. Vanguard Group Inc. now owns 5,674,509 shares of the company’s stock worth $84,267,000 after buying an additional 2,714,348 shares in the last quarter. State Street Corp grew its holdings in Krispy Kreme by 170.5% during the first quarter. State Street Corp now owns 1,182,657 shares of the company’s stock worth $17,562,000 after buying an additional 745,480 shares in the last quarter. Norges Bank bought a new stake in Krispy Kreme during the fourth quarter worth $5,177,000. Finally, Northern Trust Corp boosted its position in Krispy Kreme by 178.8% in the first quarter. Northern Trust Corp now owns 661,703 shares of the company’s stock worth $9,826,000 after purchasing an additional 424,351 shares during the last quarter. Institutional investors own 75.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on DNUT shares. Citigroup lifted their price objective on Krispy Kreme from $14.00 to $15.00 in a research note on Monday, April 24th. CL King boosted their price target on Krispy Kreme from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, April 4th. Morgan Stanley downgraded Krispy Kreme from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $13.00 in a report on Tuesday, January 17th. Truist Financial upgraded Krispy Kreme from a “hold” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $20.00 in a report on Wednesday, March 22nd. Finally, HSBC decreased their price objective on Krispy Kreme from $15.00 to $14.00 and set a “hold” rating for the company in a report on Tuesday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Krispy Kreme currently has an average rating of “Hold” and a consensus price target of $15.00.

About Krispy Kreme

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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.