Wellington Management Group LLP Has $13.08 Million Stock Position in Karat Packaging Inc. (NASDAQ:KRT)

Wellington Management Group LLP decreased its position in Karat Packaging Inc. (NASDAQ:KRT) by 8.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 526,536 shares of the company’s stock after selling 46,400 shares during the period. Wellington Management Group LLP owned approximately 2.64% of Karat Packaging worth $13,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new stake in Karat Packaging in the 4th quarter valued at $29,000. Copeland Capital Management LLC bought a new stake in Karat Packaging in the 4th quarter valued at $31,000. Financial Management Professionals Inc. bought a new stake in Karat Packaging in the 4th quarter valued at $39,000. Tower Research Capital LLC TRC lifted its position in Karat Packaging by 103.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,723 shares of the company’s stock valued at $43,000 after acquiring an additional 875 shares in the last quarter. Finally, Seizert Capital Partners LLC bought a new stake in Karat Packaging in the 4th quarter valued at $294,000. Institutional investors and hedge funds own 25.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KRT shares. Stifel Nicolaus reaffirmed 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 Trading Down 1.3 %

Shares of NASDAQ:KRT opened at $28.24 on Thursday. The company’s 50-day moving average price is $28.11 and its two-hundred day moving average price is $26.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.33 and a quick ratio of 1.69. Karat Packaging Inc. has a one year low of $16.90 and a one year high of $30.94. The stock has a market capitalization of $564.24 million, a PE ratio of 19.08 and a beta of 1.07.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.04). The firm had revenue of $95.61 million for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.45 earnings per share. On average, equities analysts forecast that Karat Packaging Inc. will post 1.95 EPS for the current fiscal year.

Karat Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 16th. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 4.96%. Karat Packaging’s payout ratio is currently 94.59%.

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.