Janney Montgomery Scott LLC Has $738,000 Position in Karat Packaging Inc. (NASDAQ:KRT)

Janney Montgomery Scott LLC increased its stake in shares of Karat Packaging Inc. (NASDAQ:KRT) by 4.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,488 shares of the company’s stock after buying an additional 1,148 shares during the quarter. Janney Montgomery Scott LLC owned about 0.14% of Karat Packaging worth $738,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. US Bancorp DE acquired a new stake in shares of Karat Packaging in the 3rd quarter valued at $30,000. Gladius Capital Management LP acquired a new stake in shares of Karat Packaging in the 2nd quarter valued at $33,000. Copeland Capital Management LLC acquired a new stake in shares of Karat Packaging in the 3rd quarter valued at $49,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Karat Packaging in the 2nd quarter valued at $52,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Karat Packaging by 497.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock valued at $95,000 after purchasing an additional 3,061 shares in the last quarter. Institutional investors and hedge funds own 25.20% of the company’s stock.

Karat Packaging Stock Down 2.6 %

Shares of NASDAQ:KRT opened at $29.48 on Monday. The firm has a market cap of $590.19 million, a P/E ratio of 21.06 and a beta of 1.03. The company has a quick ratio of 1.62, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. Karat Packaging Inc. has a 12-month low of $20.93 and a 12-month high of $31.21. The business has a fifty day simple moving average of $26.76 and a 200 day simple moving average of $27.40.

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 5.43%. Karat Packaging’s dividend payout ratio (DPR) is 100.00%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut Karat Packaging from a “buy” rating to a “hold” rating and dropped their price target for the company from $34.00 to $28.00 in a research note on Friday, August 9th.

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.