Barclays PLC Has $1.84 Million Stake in Karat Packaging Inc. (NASDAQ:KRT)

Barclays PLC grew its position in Karat Packaging Inc. (NASDAQ:KRT) by 12.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 71,153 shares of the company’s stock after acquiring an additional 7,911 shares during the period. Barclays PLC owned 0.36% of Karat Packaging worth $1,843,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Karat Packaging by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,310 shares of the company’s stock valued at $5,038,000 after buying an additional 4,408 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Karat Packaging during the 2nd quarter worth $1,162,000. Ritholtz Wealth Management increased its stake in shares of Karat Packaging by 29.8% in the second quarter. Ritholtz Wealth Management now owns 32,783 shares of the company’s stock worth $970,000 after purchasing an additional 7,518 shares in the last quarter. Rhumbline Advisers raised its holdings in Karat Packaging by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 9,203 shares of the company’s stock valued at $272,000 after acquiring an additional 387 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Karat Packaging by 8.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,278 shares of the company’s stock valued at $8,375,000 after purchasing an additional 21,383 shares during the period. 25.20% of the stock is owned by institutional investors and hedge funds.

Karat Packaging Stock Up 1.6 %

Shares of NASDAQ KRT opened at $30.71 on Friday. The firm has a fifty day simple moving average of $29.62 and a two-hundred day simple moving average of $27.90. 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 firm has a market capitalization of $614.81 million, a PE ratio of 21.94 and a beta of 1.08. Karat Packaging Inc. has a 12 month low of $22.51 and a 12 month high of $33.14.

Karat Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th were issued a dividend of $0.40 per share. This is an increase from Karat Packaging’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Wednesday, November 20th. Karat Packaging’s dividend payout ratio is presently 114.29%.

Analysts Set New Price Targets

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

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.