Karat Packaging Inc. (NASDAQ:KRT) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management decreased its position in shares of Karat Packaging Inc. (NASDAQ:KRT) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,586 shares of the company’s stock after selling 2,409 shares during the period. Ritholtz Wealth Management owned about 0.12% of Karat Packaging worth $744,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KRT. Rhumbline Advisers lifted its stake in Karat Packaging by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 9,203 shares of the company’s stock worth $272,000 after acquiring an additional 387 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 3,397 shares in the last quarter. Renaissance Technologies LLC raised its position in Karat Packaging by 8.8% in the 2nd quarter. Renaissance Technologies LLC now owns 33,515 shares of the company’s stock valued at $991,000 after purchasing an additional 2,700 shares in the last quarter. AQR Capital Management LLC raised its position in Karat Packaging by 37.8% in the 2nd quarter. AQR Capital Management LLC now owns 116,980 shares of the company’s stock valued at $3,460,000 after purchasing an additional 32,069 shares in the last quarter. Finally, Kings Path Partners LLC acquired a new stake in Karat Packaging in the 3rd quarter valued at about $401,000. Institutional investors and hedge funds own 25.20% of the company’s stock.

Karat Packaging Trading Up 1.5 %

Shares of KRT stock opened at $29.58 on Tuesday. The business’s fifty day moving average price is $30.25 and its 200 day moving average price is $28.01. Karat Packaging Inc. has a 1-year low of $23.10 and a 1-year high of $33.14. The firm has a market capitalization of $592.19 million, a PE ratio of 21.13 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82.

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Wednesday, November 20th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend was Wednesday, November 20th. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.35. Karat Packaging’s dividend payout ratio is currently 114.29%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KRT. William Blair lowered Karat Packaging from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Stifel Nicolaus raised their target price on Karat Packaging from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

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.