Karat Packaging Inc. (NASDAQ:KRT) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in Karat Packaging Inc. (NASDAQ:KRT) by 93.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,258 shares of the company’s stock after purchasing an additional 47,377 shares during the period. Los Angeles Capital Management LLC owned 0.49% of Karat Packaging worth $2,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Strs Ohio grew its stake in Karat Packaging by 29.0% during the 4th quarter. Strs Ohio now owns 18,700 shares of the company’s stock valued at $464,000 after purchasing an additional 4,200 shares during the last quarter. Denali Advisors LLC increased its holdings in Karat Packaging by 167.8% in the 4th quarter. Denali Advisors LLC now owns 31,600 shares of the company’s stock worth $785,000 after buying an additional 19,800 shares during the period. Copeland Capital Management LLC purchased a new position in Karat Packaging during the 4th quarter worth approximately $31,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Karat Packaging during the 4th quarter valued at approximately $29,000. Finally, Ellsworth Advisors LLC boosted its holdings in shares of Karat Packaging by 3.1% in the 4th quarter. Ellsworth Advisors LLC now owns 17,901 shares of the company’s stock valued at $445,000 after acquiring an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Karat Packaging in a research report on Friday, March 15th. Truist Financial boosted their price objective on Karat Packaging from $24.00 to $33.00 and gave the company a “buy” rating in a report on Friday, March 15th.

Karat Packaging Stock Performance

KRT opened at $28.22 on Tuesday. The firm has a fifty day moving average price of $28.11 and a 200 day moving average price of $25.00. Karat Packaging Inc. has a 1 year low of $14.26 and a 1 year high of $30.94. The stock has a market cap of $563.55 million, a P/E ratio of 17.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.49 and a quick ratio of 1.88.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, March 14th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.16). Karat Packaging had a return on equity of 22.54% and a net margin of 8.00%. The firm had revenue of $95.58 million during the quarter, compared to analyst estimates of $95.51 million. Equities research analysts anticipate that Karat Packaging Inc. will post 1.92 earnings per share for the current year.

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Wednesday, February 21st were issued a $0.30 dividend. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Tuesday, February 20th. Karat Packaging’s dividend payout ratio (DPR) is presently 74.07%.

Karat Packaging Company Profile

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.