Denali Advisors LLC Sells 5,000 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Denali Advisors LLC trimmed its position in shares of Karat Packaging Inc. (NASDAQ:KRT) by 15.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,600 shares of the company’s stock after selling 5,000 shares during the period. Denali Advisors LLC’s holdings in Karat Packaging were worth $761,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Ellsworth Advisors LLC boosted its position in Karat Packaging by 3.1% in the 4th quarter. Ellsworth Advisors LLC now owns 17,901 shares of the company’s stock valued at $445,000 after buying an additional 531 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Karat Packaging by 103.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,723 shares of the company’s stock worth $43,000 after purchasing an additional 875 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in Karat Packaging during the fourth quarter worth $29,000. Copeland Capital Management LLC bought a new stake in Karat Packaging during the 4th quarter valued at $31,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of Karat Packaging in the 4th quarter valued at $39,000. Institutional investors own 25.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price objective on Karat Packaging from $24.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Stifel Nicolaus reissued a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Karat Packaging in a research report on Friday, March 15th.

Karat Packaging Price Performance

Shares of NASDAQ KRT opened at $27.88 on Thursday. Karat Packaging Inc. has a fifty-two week low of $16.90 and a fifty-two week high of $30.94. The company has a market cap of $557.04 million, a PE ratio of 18.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.33. The business has a 50-day simple moving average of $28.28 and a two-hundred day simple moving average of $27.05.

Karat Packaging (NASDAQ:KRT) last released its earnings results on Thursday, May 9th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The company had revenue of $95.61 million during the quarter, compared to analyst estimates of $99.76 million. Karat Packaging had a return on equity of 21.94% and a net margin of 7.31%. During the same quarter last year, the business earned $0.45 earnings per share. As a group, equities analysts expect that Karat Packaging Inc. will post 1.95 EPS for the current fiscal year.

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 16th. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.02%. Karat Packaging’s payout ratio is 94.59%.

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.