Janney Montgomery Scott LLC Acquires 6,178 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Janney Montgomery Scott LLC boosted its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 21.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,666 shares of the company’s stock after purchasing an additional 6,178 shares during the quarter. Janney Montgomery Scott LLC owned about 0.17% of Karat Packaging worth $1,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE purchased a new stake in shares of Karat Packaging in the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC bought a new stake in Karat Packaging in the third quarter worth $49,000. Nisa Investment Advisors LLC grew its stake in shares of Karat Packaging by 497.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock worth $95,000 after acquiring an additional 3,061 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Karat Packaging during the third quarter valued at $401,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Karat Packaging by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company’s stock worth $511,000 after purchasing an additional 1,053 shares during the last quarter. Institutional investors own 25.20% of the company’s stock.

Karat Packaging Stock Up 0.5 %

KRT stock opened at $30.59 on Thursday. The stock has a market capitalization of $612.41 million, a P/E ratio of 21.85 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 Inc. has a 1-year low of $23.10 and a 1-year high of $33.14. The business has a fifty day moving average price of $30.50 and a 200-day moving average price of $28.21.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on KRT. William Blair downgraded shares of Karat Packaging from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Stifel Nicolaus increased their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a 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.