Independent Advisor Alliance Decreases Stake in Karat Packaging Inc. (NASDAQ:KRT)

Independent Advisor Alliance lessened its position in shares of Karat Packaging Inc. (NASDAQ:KRT) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,595 shares of the company’s stock after selling 420 shares during the quarter. Independent Advisor Alliance owned about 0.19% of Karat Packaging worth $1,138,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Copeland Capital Management LLC grew its stake in shares of Karat Packaging by 38.4% in the 4th quarter. Copeland Capital Management LLC now owns 2,604 shares of the company’s stock worth $79,000 after buying an additional 722 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in 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 worth $157,000 after acquiring an additional 1,500 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Karat Packaging during the fourth quarter worth approximately $291,000. Janney Montgomery Scott LLC raised its position in Karat Packaging by 21.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 34,666 shares of the company’s stock valued at $1,049,000 after purchasing an additional 6,178 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Karat Packaging by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 178,645 shares of the company’s stock valued at $4,626,000 after purchasing an additional 24,020 shares during the last quarter. Institutional investors own 25.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Karat Packaging Stock Down 2.1 %

Shares of NASDAQ KRT opened at $28.34 on Friday. Karat Packaging Inc. has a 1 year low of $23.10 and a 1 year high of $33.89. The firm has a 50-day simple moving average of $30.19 and a two-hundred day simple moving average of $28.80. The company has a market cap of $567.48 million, a P/E ratio of 20.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $101.65 million during the quarter, compared to analysts’ expectations of $102.27 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. Research analysts anticipate that Karat Packaging Inc. will post 1.66 earnings per share for the current year.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 24th were paid a dividend of $0.45 per share. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend was Monday, February 24th. Karat Packaging’s payout ratio is currently 128.57%.

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.