Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Krispy Kreme Doughnuts    KKD   US5010141043

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Green Mountain's Stiller sells Krispy Kreme stake

05/09/2012 | 05:16pm US/Eastern

(Reuters) - Green Mountain Coffee Roasters Inc's former chairman Robert Stiller has sold his stake in Krispy Kreme Doughnuts Inc, it was revealed Wednesday, a day after news of a similar sale of Green Mountain shares cost him his position at that company.

Stiller, who was Krispy Kreme's second largest shareholder, sold about 8.1 million shares in the doughnut chain on Monday, according to a regulatory filing.

At an average price of $6.15 a share, the stake sale was valued at about $49.6 million. Krispy Kreme's stock closed up 5 percent at $6.67 on the New York Stock Exchange Wednesday.

"Clearly with Green Mountain's stock sell-off last week, Stiller had margin calls against his position," B Riley & Co analyst Conrad Lyon said.

"And to satisfy those calls he has been selling his holdings in not only Green Mountain, but in Krispy Kreme (as well)."

The margin calls stemmed from a near 50 percent drop in Green Mountain's stock price since it reported disastrous quarterly results last week.

Investors can borrow money from banks or brokerages using their stock holdings as collateral. A margin call occurs when the value of those holdings falls below a threshold that forces the investor to put up more cash or sell shares to repay the loan.

Stiller was removed as Green Mountain chairman for selling at a time when trading by insiders was prohibited.

Following his most recent sale, Stiller controls about 7 percent of Green Mountain's stock.

(Reporting by Arpita Mukherjee in Bangalore; Editing by Viraj Nair, Saumyadeb Chakrabarty)

Recommend :
React to this article
4d ago KRISPY KREME DOUGHNUTS : Citymax to bring more global brands to india
07/15 KRISPY KREME DOUGHNUTS : Enjoy The Sweet Tastes of The South At Krispy Kreme
07/07 KRISPY KREME DOUGHNUTS : Celebrating an Original! Happy 77th Birthday to the Ori..
07/01 KRISPY KREME DOUGHNUTS : Celebrating an Original! Happy 77th Birthday to the Ori..
06/26 KRISPY KREME DOUGHNUTS : Operations Expansion, Donations, and Dividends - Analys..
06/24 KRISPY KREME DOUGHNUTS : and the Law Enforcement Torch Run® Team Up To Support S..
06/18 KRISPY KREME DOUGHNUTS : Submission of Matters to a Vote of Security Holders, Fi..
06/10 KRISPY KREME DOUGHNUTS : : Signs Southeast Washington State Development Agreemen..
06/05 KRISPY KREME DOUGHNUTS : Releases Financial Results for First Quarter Fiscal 201..
06/05 KRISPY KREME DOUGHNUTS : Releases 1st Quarter FY 2015 Financial Results
Duration : Period :
Krispy Kreme Doughnuts Technical Analysis Chart | KKD | US5010141043 | 4-Traders
Income Statement Evolution
Krispy Kreme Doughnuts : Income Statement Evolution
More Financials
Dynamic quotes