Charles Schwab Investment Management Inc. Acquires 1,053 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Charles Schwab Investment Management Inc. grew its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,720 shares of the company’s stock after buying an additional 1,053 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.10% of Karat Packaging worth $511,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of Karat Packaging by 8.2% in the second quarter. Acadian Asset Management LLC now owns 283,278 shares of the company’s stock valued at $8,375,000 after buying an additional 21,383 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Karat Packaging by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 170,310 shares of the company’s stock valued at $5,038,000 after acquiring an additional 4,408 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Karat Packaging by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 121,473 shares of the company’s stock valued at $3,592,000 after acquiring an additional 3,397 shares during the period. AQR Capital Management LLC increased its stake in shares of Karat Packaging by 37.8% during the 2nd quarter. AQR Capital Management LLC now owns 116,980 shares of the company’s stock worth $3,460,000 after purchasing an additional 32,069 shares during the last quarter. Finally, LSV Asset Management bought a new stake in shares of Karat Packaging in the 2nd quarter valued at about $2,359,000. 25.20% of the stock is currently owned by institutional investors and hedge funds.

Karat Packaging Trading Up 0.1 %

Shares of KRT stock opened at $29.74 on Friday. The stock has a 50 day simple moving average of $29.30 and a 200 day simple moving average of $27.82. Karat Packaging Inc. has a 1 year low of $22.51 and a 1 year high of $33.14. 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 has a market cap of $595.51 million, a P/E ratio of 21.24 and a beta of 1.08.

Karat Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.38%. This is an increase from Karat Packaging’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, November 20th. Karat Packaging’s dividend payout ratio is presently 114.29%.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their price target on Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

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.