Penn Capital Management Co Inc buys $34.2 Million stake in Krispy Kreme Doughnuts (KKD)

Krispy Kreme Doughnuts (KKD) : Penn Capital Management Co Inc scooped up 64,897 additional shares in Krispy Kreme Doughnuts during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,617,339 shares of Krispy Kreme Doughnuts which is valued at $34.2 Million.Krispy Kreme Doughnuts makes up approximately 1.96% of Penn Capital Management Co Inc’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans reduced its stake in KKD by selling 55,390 shares or 18.15% in the most recent quarter. The Hedge Fund company now holds 249,860 shares of KKD which is valued at $5.3 Million. Krispy Kreme Doughnuts makes up approx 0.03% of Thrivent Financial For Lutherans’s portfolio.Tiaa Cref Investment Management boosted its stake in KKD in the latest quarter, The investment management firm added 76,472 additional shares and now holds a total of 334,824 shares of Krispy Kreme Doughnuts which is valued at $5.6 Million.Schwab Charles Investment Management Inc boosted its stake in KKD in the latest quarter, The investment management firm added 4,296 additional shares and now holds a total of 213,247 shares of Krispy Kreme Doughnuts which is valued at $3.6 Million.Russell Frank Co boosted its stake in KKD in the latest quarter, The investment management firm added 241,971 additional shares and now holds a total of 549,965 shares of Krispy Kreme Doughnuts which is valued at $9.6 Million. Krispy Kreme Doughnuts makes up approx 0.02% of Russell Frank Co’s portfolio.Great West Life Assurance Co Can boosted its stake in KKD in the latest quarter, The investment management firm added 5,213 additional shares and now holds a total of 9,179 shares of Krispy Kreme Doughnuts which is valued at $159,806.

Krispy Kreme Doughnuts opened for trading at $21.1 and hit $21.16 on the upside on Friday, eventually ending the session at $21.16, with a gain of 0.38% or 0.08 points. The heightened volatility saw the trading volume jump to 5,68,894 shares. Company has a market cap of $1,337 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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