Wasatch Advisors LP Decreases Position in Karat Packaging Inc. (NASDAQ:KRT)

Wasatch Advisors LP decreased its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,582 shares of the company’s stock after selling 6,151 shares during the quarter. Wasatch Advisors LP owned approximately 1.41% of Karat Packaging worth $7,316,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in Karat Packaging by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company’s stock valued at $511,000 after buying an additional 1,053 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Karat Packaging by 186.4% in the third quarter. GSA Capital Partners LLP now owns 34,366 shares of the company’s stock valued at $890,000 after buying an additional 22,365 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Karat Packaging by 4.2% in the third quarter. Janney Montgomery Scott LLC now owns 28,488 shares of the company’s stock valued at $738,000 after buying an additional 1,148 shares during the last quarter. US Bancorp DE purchased a new stake in Karat Packaging in the third quarter valued at approximately $30,000. Finally, Nisa Investment Advisors LLC lifted its stake in Karat Packaging by 497.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock valued at $95,000 after buying an additional 3,061 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 cut Karat Packaging from a “buy” rating to a “hold” rating and reduced their price objective for the company from $34.00 to $28.00 in a research note on Friday, August 9th.

Karat Packaging Trading Up 1.4 %

NASDAQ:KRT opened at $30.89 on Friday. The firm has a market cap of $618.42 million, a P/E ratio of 22.06 and a beta of 1.03. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $27.69 and its 200-day simple moving average is $27.54. Karat Packaging Inc. has a 12-month low of $21.38 and a 12-month high of $31.44.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th were issued a $0.40 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.18%. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.35. Karat Packaging’s payout ratio is presently 114.29%.

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.