Karat Packaging Inc. (NASDAQ:KRT) Stock Holdings Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 10.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 87,811 shares of the company’s stock after selling 10,447 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.44% of Karat Packaging worth $2,512,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in Karat Packaging by 484.5% in the 3rd quarter. Acadian Asset Management LLC now owns 183,620 shares of the company’s stock valued at $4,229,000 after purchasing an additional 152,207 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Karat Packaging in the 4th quarter valued at about $1,677,000. EAM Investors LLC bought a new stake in Karat Packaging in the 3rd quarter valued at about $1,390,000. O Shaughnessy Asset Management LLC bought a new stake in Karat Packaging in the 3rd quarter valued at about $641,000. Finally, Quadrature Capital Ltd bought a new stake in Karat Packaging in the 3rd quarter valued at about $627,000. 25.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Karat Packaging in a research report on Friday, March 15th. Truist Financial boosted their price target on shares of Karat Packaging from $24.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, March 15th.

Karat Packaging Stock Up 0.5 %

KRT stock opened at $28.75 on Friday. Karat Packaging Inc. has a 52 week low of $16.90 and a 52 week high of $30.94. The company has a market capitalization of $574.43 million, a price-to-earnings ratio of 19.43 and a beta of 1.07. The firm’s 50-day moving average is $27.99 and its two-hundred day moving average is $26.62. The company has a current ratio of 3.33, a quick ratio of 1.69 and a debt-to-equity ratio of 0.30.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The company had revenue of $95.61 million for the quarter, compared to the consensus estimate of $99.76 million. Karat Packaging had a return on equity of 21.94% and a net margin of 7.31%. During the same quarter last year, the firm posted $0.45 earnings per share. On average, analysts forecast that Karat Packaging Inc. will post 1.95 earnings per share for the current fiscal year.

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.40 annualized dividend and a dividend yield of 4.87%. This is a boost from Karat Packaging’s previous quarterly dividend of $0.30. Karat Packaging’s payout ratio is currently 94.59%.

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.