Janus Henderson Group PLC Has $688,000 Stake in Karat Packaging Inc. (NASDAQ:KRT)

Janus Henderson Group PLC lifted its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 7.1% during the 3rd quarter, Holdings Channel reports. The fund owned 26,567 shares of the company’s stock after acquiring an additional 1,760 shares during the quarter. Janus Henderson Group PLC’s holdings in Karat Packaging were worth $688,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Acadian Asset Management LLC boosted its stake in Karat Packaging by 8.2% in the second quarter. Acadian Asset Management LLC now owns 283,278 shares of the company’s stock worth $8,375,000 after purchasing an additional 21,383 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Karat Packaging in the second quarter valued at about $1,162,000. Janney Montgomery Scott LLC lifted its position in 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 buying an additional 1,148 shares in the last quarter. US Bancorp DE bought a new stake in Karat Packaging during the 3rd quarter worth about $30,000. Finally, Bailard Inc. increased its position in Karat Packaging by 26.0% in the 2nd quarter. Bailard Inc. now owns 16,943 shares of the company’s stock valued at $501,000 after acquiring an additional 3,500 shares in the last quarter. 25.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus increased their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday.

Karat Packaging Trading Up 1.1 %

Shares of KRT opened at $32.44 on Friday. The stock’s fifty day simple moving average is $28.89 and its 200-day simple moving average is $27.75. The firm has a market capitalization of $649.58 million, a PE ratio of 23.17 and a beta of 1.08. Karat Packaging Inc. has a 12-month low of $22.25 and a 12-month high of $32.70. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29.

Karat Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.35. Karat Packaging’s dividend payout ratio (DPR) is 114.29%.

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.