Independent Advisor Alliance Sells 420 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Independent Advisor Alliance cut its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 1.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,595 shares of the company’s stock after selling 420 shares during the period. Independent Advisor Alliance’s holdings in Karat Packaging were worth $1,138,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KRT. US Bancorp DE bought a new stake in Karat Packaging during the 3rd quarter valued at $30,000. Janney Montgomery Scott LLC lifted its stake in shares of Karat Packaging by 4.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 28,488 shares of the company’s stock worth $738,000 after purchasing an additional 1,148 shares during the last quarter. GSA Capital Partners LLP boosted its position in Karat Packaging by 186.4% during the third quarter. GSA Capital Partners LLP now owns 34,366 shares of the company’s stock valued at $890,000 after purchasing an additional 22,365 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Karat Packaging by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company’s stock valued at $511,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Karat Packaging by 7.1% in the third quarter. Janus Henderson Group PLC now owns 26,567 shares of the company’s stock worth $688,000 after purchasing an additional 1,760 shares in the last quarter. 25.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KRT has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. William Blair cut shares of Karat Packaging from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd.

Karat Packaging Stock Down 2.1 %

Shares of KRT stock opened at $28.34 on Friday. The stock’s fifty day moving average price is $30.19 and its 200 day moving average price is $28.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82. Karat Packaging Inc. has a 1-year low of $23.10 and a 1-year high of $33.89. The company has a market cap of $567.48 million, a price-to-earnings ratio of 20.24 and a beta of 1.08.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The business had revenue of $101.65 million for the quarter, compared to analysts’ expectations of $102.27 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. On average, research analysts expect that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 24th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.35%. This is a boost from Karat Packaging’s previous quarterly dividend of $0.40. Karat Packaging’s dividend payout ratio (DPR) is currently 128.57%.

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.