Divisadero Street Capital Management LP Makes New $1.46 Million Investment in Krispy Kreme, Inc. $DNUT

Divisadero Street Capital Management LP acquired a new stake in shares of Krispy Kreme, Inc. (NASDAQ:DNUT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 500,000 shares of the company’s stock, valued at approximately $1,455,000.

A number of other hedge funds have also recently modified their holdings of DNUT. Vanguard Group Inc. increased its stake in shares of Krispy Kreme by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,867,100 shares of the company’s stock valued at $43,626,000 after purchasing an additional 233,234 shares in the last quarter. Pacific Point Advisors LLC purchased a new stake in shares of Krispy Kreme in the 2nd quarter worth approximately $341,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Krispy Kreme in the 2nd quarter worth approximately $333,000. XTX Topco Ltd increased its position in Krispy Kreme by 452.4% during the 2nd quarter. XTX Topco Ltd now owns 340,289 shares of the company’s stock valued at $990,000 after buying an additional 278,682 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Krispy Kreme during the first quarter valued at $1,126,000. Institutional investors own 81.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research cut Krispy Kreme from a “hold” rating to a “strong sell” rating in a research note on Monday, August 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a research report on Monday, December 1st. Singular Research raised shares of Krispy Kreme to a “moderate buy” rating in a research report on Wednesday, October 22nd. Capital One Financial reduced their price objective on shares of Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, October 2nd. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Krispy Kreme in a report on Wednesday, August 27th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.51.

Krispy Kreme Trading Up 1.7%

Krispy Kreme stock opened at $4.29 on Monday. Krispy Kreme, Inc. has a one year low of $2.50 and a one year high of $10.52. The business’s fifty day moving average is $3.81 and its 200 day moving average is $3.45. The stock has a market capitalization of $734.88 million, a PE ratio of -1.43 and a beta of 1.31. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.36 and a quick ratio of 0.30.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Thursday, November 6th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $375.30 million during the quarter, compared to analyst estimates of $378.29 million. Krispy Kreme had a negative return on equity of 5.13% and a negative net margin of 33.27%.Krispy Kreme’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) EPS. On average, sell-side analysts predict that Krispy Kreme, Inc. will post 0.07 EPS for the current year.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.