Karat Packaging (NASDAQ:KRT) Hits New 12-Month High – What’s Next?

Karat Packaging Inc. (NASDAQ:KRT) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $33.41 and last traded at $33.68, with a volume of 12042 shares trading hands. The stock had previously closed at $32.18.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Karat Packaging from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. William Blair lowered shares of Karat Packaging from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd.

Karat Packaging Stock Performance

The stock’s fifty day simple moving average is $30.46 and its 200-day simple moving average is $28.32. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $667.77 million, a PE ratio of 23.83 and a beta of 1.08.

Karat Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 24th will be paid a $0.45 dividend. This is an increase from Karat Packaging’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 5.40%. The ex-dividend date is Monday, February 24th. Karat Packaging’s dividend payout ratio (DPR) is presently 114.29%.

Hedge Funds Weigh In On Karat Packaging

Several hedge funds and other institutional investors have recently bought and sold shares of KRT. US Bancorp DE purchased a new position in shares of Karat Packaging in the third quarter valued at $30,000. Deutsche Bank AG grew its stake in Karat Packaging by 773.6% in the 4th quarter. Deutsche Bank AG now owns 1,590 shares of the company’s stock valued at $48,000 after acquiring an additional 1,408 shares during the last quarter. Copeland Capital Management LLC purchased a new position in Karat Packaging during the 3rd quarter valued at about $49,000. Nisa Investment Advisors LLC raised its position in Karat Packaging by 497.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock worth $95,000 after acquiring an additional 3,061 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Karat Packaging by 40.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company’s stock valued at $157,000 after purchasing an additional 1,500 shares in the last quarter. 25.20% of the stock is owned by institutional investors and hedge funds.

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.