Quadrature Capital Ltd Has $632,000 Stock Holdings in Karat Packaging Inc. (NASDAQ:KRT)

Quadrature Capital Ltd trimmed its position in shares of Karat Packaging Inc. (NASDAQ:KRT) by 6.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,392 shares of the company’s stock after selling 1,698 shares during the period. Quadrature Capital Ltd’s holdings in Karat Packaging were worth $632,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Ellsworth Advisors LLC lifted its stake in shares of Karat Packaging by 3.1% in the fourth quarter. Ellsworth Advisors LLC now owns 17,901 shares of the company’s stock worth $445,000 after acquiring an additional 531 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Karat Packaging by 103.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,723 shares of the company’s stock worth $43,000 after acquiring an additional 875 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Karat Packaging in the fourth quarter worth approximately $29,000. Copeland Capital Management LLC acquired a new position in shares of Karat Packaging in the fourth quarter worth approximately $31,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Karat Packaging in the fourth quarter worth approximately $39,000. 25.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on KRT. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Karat Packaging in a research note on Friday, March 15th. Truist Financial lifted their price objective on Karat Packaging from $24.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, March 15th.

Karat Packaging Trading Up 0.5 %

Shares of KRT stock opened at $28.75 on Friday. The company has a market cap of $574.43 million, a P/E ratio of 19.43 and a beta of 1.07. The stock has a 50 day simple moving average of $28.01 and a two-hundred day simple moving average of $26.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.33. Karat Packaging Inc. has a fifty-two week low of $16.90 and a fifty-two week high of $30.94.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $95.61 million for the quarter, compared to the consensus estimate of $99.76 million. Karat Packaging had a net margin of 7.31% and a return on equity of 21.94%. During the same quarter in the prior year, the firm earned $0.45 EPS. Research analysts forecast that Karat Packaging Inc. will post 1.95 earnings per share for the current year.

Karat Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were issued a dividend of $0.35 per share. This is an increase from Karat Packaging’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, May 16th. This represents a $1.40 annualized dividend and a dividend yield of 4.87%. Karat Packaging’s payout ratio is currently 94.59%.

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.