Arcus Capital Partners Lowers stake in Krispy Kreme Doughnuts (KKD)

Krispy Kreme Doughnuts (KKD) : Arcus Capital Partners reduced its stake in Krispy Kreme Doughnuts by 0.3% during the most recent quarter end. The investment management company now holds a total of 624,965 shares of Krispy Kreme Doughnuts which is valued at $10,536,910 after selling 1,889 shares in Krispy Kreme Doughnuts , the firm said in a disclosure report filed with the SEC on May 3, 2016.Krispy Kreme Doughnuts makes up approximately 7.54% of Arcus Capital Partners’s portfolio.

Other Hedge Funds, Including , Whitebox Advisors sold out all of its stake in KKD during the most recent quarter. The investment firm sold 263,805 shares of KKD which is valued $4,447,752.

Krispy Kreme Doughnuts opened for trading at $20.92 and hit $21.195 on the upside on Tuesday, eventually ending the session at $21, with a gain of 0.19% or 0.04 points. The heightened volatility saw the trading volume jump to 42,34,935 shares. Company has a market cap of $1,327 M.

On the company’s financial health, Krispy Kreme Doughnuts reported $0.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Mar 22, 2016. Analyst had a consensus of $0.21. The company had revenue of $130.40 million for the quarter, compared to analysts expectations of $131.83 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.

Many Wall Street Analysts have commented on Krispy Kreme Doughnuts. Krispy Kreme Doughnuts was Downgraded by Longbow to ” Neutral” on May 10, 2016. Shares were Reiterated by Wedbush on Mar 23, 2016 to “Outperform” and Lowered the Price Target to $ 21 from a previous price target of $22 .

Krispy Kreme Doughnuts Inc. is a retailer and wholesaler of doughnuts complementary beverages and treats and packaged sweets. The Company’s principal business is owning and franchising Krispy Kreme stores at which a variety of doughnuts including the Company’s Original Glazed doughnut are sold and distributed together with complementary products and where an array of coffees and other beverages are offered. The Company has four business segments: Company Stores Domestic Franchise International Franchise and KK Supply Chain. The Company’s shops offer 16 or more doughnut varieties. The Company offers doughnuts of several varieties such as yeast-raised doughnuts cake doughnuts and crullers. In addition it offers a number of products through wholesale channels including Danishes honeybuns fruit pies mini-crullers and chocolate products packaged as individually wrapped snacks or packaged in snack bags.

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