Karat Packaging (NASDAQ:KRT) Hits New 12-Month High – Time to Buy?

Karat Packaging Inc. (NASDAQ:KRT)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $31.50 and last traded at $31.42, with a volume of 5248 shares trading hands. The stock had previously closed at $31.26.

Analyst Upgrades and Downgrades

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

Karat Packaging Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82. The stock’s 50 day moving average is $27.69 and its 200-day moving average is $27.53. The company has a market capitalization of $630.23 million, a P/E ratio of 22.33 and a beta of 1.08.

Karat Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Wednesday, November 20th were given a dividend of $0.40 per share. This is a boost from Karat Packaging’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Wednesday, November 20th. Karat Packaging’s dividend payout ratio (DPR) is 114.29%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new position in Karat Packaging in the 3rd quarter worth approximately $30,000. Gladius Capital Management LP bought a new stake in Karat Packaging in the 2nd quarter worth about $33,000. Copeland Capital Management LLC purchased a new position in Karat Packaging in the 3rd quarter worth about $49,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Karat Packaging during the 2nd quarter valued at about $52,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Karat Packaging by 497.7% in 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 period. Hedge funds and other institutional investors own 25.20% of the company’s stock.

About Karat Packaging

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.