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

Los Angeles Capital Management LLC lowered its position in shares of Karat Packaging Inc. (NASDAQ:KRT) by 17.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,704 shares of the company’s stock after selling 7,500 shares during the period. Los Angeles Capital Management LLC’s holdings in Karat Packaging were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in KRT. US Bancorp DE acquired a new stake in shares of Karat Packaging during the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC increased its holdings in shares of Karat Packaging by 38.4% during the 4th quarter. Copeland Capital Management LLC now owns 2,604 shares of the company’s stock worth $79,000 after buying an additional 722 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Karat Packaging by 497.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock worth $95,000 after buying an additional 3,061 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Karat Packaging by 40.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company’s stock worth $157,000 after buying an additional 1,500 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Karat Packaging during the 4th quarter worth approximately $291,000. Institutional investors and hedge funds own 25.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KRT shares. William Blair downgraded shares of Karat Packaging from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Stifel Nicolaus increased their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

Karat Packaging Stock Performance

Shares of KRT opened at $29.91 on Friday. The stock has a 50-day simple moving average of $30.37 and a 200-day simple moving average of $28.55. 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 stock has a market capitalization of $598.92 million, a PE ratio of 21.36 and a beta of 1.08. Karat Packaging Inc. has a 1 year low of $23.10 and a 1 year high of $33.89.

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 24th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.02%. The ex-dividend date was Monday, February 24th. This is a boost from Karat Packaging’s previous quarterly dividend of $0.40. Karat Packaging’s dividend payout ratio (DPR) is presently 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.