Karat Packaging Inc. (NASDAQ:KRT) Shares Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC lifted its stake in Karat Packaging Inc. (NASDAQ:KRT) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,783 shares of the company’s stock after purchasing an additional 1,381 shares during the quarter. Ellsworth Advisors LLC’s holdings in Karat Packaging were worth $564,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KRT. Vanguard Group Inc. boosted its holdings in Karat Packaging by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 348,678 shares of the company’s stock valued at $9,976,000 after purchasing an additional 2,804 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Karat Packaging by 8.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,278 shares of the company’s stock valued at $8,375,000 after buying an additional 21,383 shares during the period. Bank of New York Mellon Corp lifted its holdings in Karat Packaging by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 170,310 shares of the company’s stock valued at $5,038,000 after acquiring an additional 4,408 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Karat Packaging by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 121,473 shares of the company’s stock worth $3,592,000 after acquiring an additional 3,397 shares during the period. Finally, AQR Capital Management LLC increased its stake in Karat Packaging by 37.8% during the second quarter. AQR Capital Management LLC now owns 116,980 shares of the company’s stock worth $3,460,000 after acquiring an additional 32,069 shares during the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered Karat Packaging from a “buy” rating to a “hold” rating and decreased their price target for the company from $34.00 to $28.00 in a research note on Friday, August 9th.

Karat Packaging Price Performance

Karat Packaging stock opened at $27.59 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 3.05. The company has a market capitalization of $551.11 million, a price-to-earnings ratio of 18.64 and a beta of 1.03. The company’s 50 day simple moving average is $25.65 and its 200-day simple moving average is $27.33. Karat Packaging Inc. has a 1 year low of $17.23 and a 1 year high of $30.94.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.11). Karat Packaging had a net margin of 6.90% and a return on equity of 19.79%. The firm had revenue of $112.60 million during the quarter, compared to analyst estimates of $114.03 million. During the same period in the previous year, the firm posted $0.68 earnings per share. As a group, equities research analysts expect that Karat Packaging Inc. will post 1.84 earnings per share for the current year.

Karat Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.40 dividend on an annualized basis and a yield of 5.07%. Karat Packaging’s dividend payout ratio (DPR) is presently 94.59%.

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.