Karat Packaging Inc. (NASDAQ:KRT) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its stake in Karat Packaging Inc. (NASDAQ:KRT) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 282,582 shares of the company’s stock after selling 6,151 shares during the period. Wasatch Advisors LP’s holdings in Karat Packaging were worth $7,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE acquired a new position in Karat Packaging during the third quarter worth $30,000. Gladius Capital Management LP acquired a new position in Karat Packaging during the second quarter worth $33,000. Copeland Capital Management LLC acquired a new position in Karat Packaging during the third quarter worth $49,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Karat Packaging during the second quarter worth $52,000. Finally, Nisa Investment Advisors LLC grew its holdings in Karat Packaging by 497.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock worth $95,000 after acquiring an additional 3,061 shares during the period. Institutional investors and hedge funds own 25.20% of the company’s stock.

Karat Packaging Stock Up 1.4 %

KRT opened at $30.89 on Friday. The business’s fifty day moving average is $27.69 and its two-hundred day moving average is $27.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12. The company has a market cap of $618.42 million, a price-to-earnings ratio of 22.06 and a beta of 1.03. Karat Packaging Inc. has a one year low of $21.38 and a one year high of $31.44.

Karat Packaging Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.18%. This is an increase from Karat Packaging’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, November 20th. Karat Packaging’s payout ratio is presently 114.29%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered Karat Packaging from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $34.00 to $28.00 in a report on Friday, August 9th.

Karat Packaging 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.