Dimensional Fund Advisors LP Purchases 3,397 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Dimensional Fund Advisors LP raised its stake in Karat Packaging Inc. (NASDAQ:KRT) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,473 shares of the company’s stock after buying an additional 3,397 shares during the period. Dimensional Fund Advisors LP owned 0.61% of Karat Packaging worth $3,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Karat Packaging during the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Karat Packaging during the 2nd quarter valued at $52,000. SG Americas Securities LLC purchased a new position in shares of Karat Packaging during the 1st quarter valued at about $115,000. Caxton Associates LP bought a new position in Karat Packaging in the 1st quarter worth approximately $210,000. Finally, Rhumbline Advisers increased its position in Karat Packaging by 4.4% in the second quarter. Rhumbline Advisers now owns 9,203 shares of the company’s stock worth $272,000 after purchasing an additional 387 shares during the last quarter. Institutional investors and hedge funds own 25.20% of the company’s stock.

Karat Packaging Price Performance

NASDAQ KRT opened at $25.90 on Friday. The company has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $27.38. Karat Packaging Inc. has a 52-week low of $17.23 and a 52-week high of $30.94. The firm has a market capitalization of $517.35 million, a price-to-earnings ratio of 17.50 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.05 and a quick ratio of 1.62.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.11). Karat Packaging had a return on equity of 19.79% and a net margin of 6.90%. The company had revenue of $112.60 million for the quarter, compared to the consensus estimate of $114.03 million. During the same period in the prior year, the company earned $0.68 EPS. Equities research analysts predict that Karat Packaging Inc. will post 1.84 earnings per share for the current fiscal year.

Karat Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 21st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend was Wednesday, August 21st. Karat Packaging’s dividend payout ratio is currently 94.59%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lowered Karat Packaging from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research note on Friday, August 9th.

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.