Karat Packaging Inc. (NASDAQ:KRT) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 43.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,066 shares of the company’s stock after selling 1,610 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Karat Packaging were worth $63,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. US Bancorp DE purchased a new position in shares of Karat Packaging in the third quarter valued at approximately $30,000. Copeland Capital Management LLC purchased a new position in Karat Packaging in the 3rd quarter valued at $49,000. Kings Path Partners LLC acquired a new stake in Karat Packaging during the 3rd quarter worth $401,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Karat Packaging by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company’s stock worth $511,000 after buying an additional 1,053 shares in the last quarter. Finally, Ellsworth Advisors LLC grew its holdings in shares of Karat Packaging by 6.8% during the third quarter. Ellsworth Advisors LLC now owns 21,783 shares of the company’s stock worth $564,000 after buying an additional 1,381 shares in the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

Karat Packaging Price Performance

NASDAQ:KRT opened at $30.91 on Friday. Karat Packaging Inc. has a 52 week low of $23.10 and a 52 week high of $33.14. The stock’s fifty day moving average is $30.51 and its two-hundred day moving average is $28.21. The company has a market capitalization of $618.94 million, a P/E ratio of 22.08 and a beta of 1.08. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.04). The company had revenue of $112.77 million during the quarter, compared to analysts’ expectations of $113.58 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. During the same quarter last year, the firm posted $0.47 earnings per share. Equities analysts expect that Karat Packaging Inc. will post 1.66 EPS for the current year.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Wednesday, November 20th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.18%. The ex-dividend date was Wednesday, November 20th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.35. Karat Packaging’s dividend payout ratio (DPR) is 114.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. William Blair cut Karat Packaging from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd.

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.