Karat Packaging Inc. (NASDAQ:KRT) Shares Purchased by Copeland Capital Management LLC

Copeland Capital Management LLC boosted its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 38.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,604 shares of the company’s stock after buying an additional 722 shares during the period. Copeland Capital Management LLC’s holdings in Karat Packaging were worth $79,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Karat Packaging by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 178,645 shares of the company’s stock worth $4,626,000 after acquiring an additional 24,020 shares during the period. Dimensional Fund Advisors LP grew its holdings in Karat Packaging by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 121,473 shares of the company’s stock valued at $3,592,000 after purchasing an additional 3,397 shares during the period. AQR Capital Management LLC increased its position 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 purchasing an additional 32,069 shares during the last quarter. Barclays PLC raised its stake in Karat Packaging by 12.5% during the third quarter. Barclays PLC now owns 71,153 shares of the company’s stock worth $1,843,000 after purchasing an additional 7,911 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Karat Packaging by 52.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 54,333 shares of the company’s stock valued at $1,407,000 after purchasing an additional 18,612 shares during the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

Karat Packaging Price Performance

KRT opened at $30.91 on Monday. Karat Packaging Inc. has a 52-week low of $23.10 and a 52-week high of $33.14. The company has a 50 day moving average of $30.51 and a two-hundred day moving average of $28.18. The company has a market cap of $618.82 million, a P/E ratio of 22.08 and a beta of 1.08. 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 (NASDAQ:KRT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.04). The business had revenue of $112.77 million for the quarter, compared to analysts’ expectations of $113.58 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. During the same period last year, the company posted $0.47 earnings per share. On average, analysts expect that Karat Packaging Inc. will post 1.66 earnings per share for the current year.

Karat Packaging Increases Dividend

The business 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. 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. This represents a $1.60 annualized dividend and a yield of 5.18%. Karat Packaging’s payout ratio is 114.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KRT. 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 Karat Packaging from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd.

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.