Charles Schwab Investment Management Inc. Buys 1,053 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Charles Schwab Investment Management Inc. grew its stake in shares of Karat Packaging Inc. (NASDAQ:KRT) by 5.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,720 shares of the company’s stock after buying an additional 1,053 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Karat Packaging were worth $511,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KRT. GSA Capital Partners LLP raised its holdings in Karat Packaging by 186.4% in the 3rd quarter. GSA Capital Partners LLP now owns 34,366 shares of the company’s stock valued at $890,000 after buying an additional 22,365 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Karat Packaging by 4.2% during the third quarter. Janney Montgomery Scott LLC now owns 28,488 shares of the company’s stock valued at $738,000 after acquiring an additional 1,148 shares during the last quarter. US Bancorp DE acquired a new position in shares of Karat Packaging during the third quarter worth $30,000. Nisa Investment Advisors LLC lifted its holdings in shares of Karat Packaging by 497.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock worth $95,000 after purchasing an additional 3,061 shares during the period. Finally, Copeland Capital Management LLC bought a new stake in shares of Karat Packaging in the third quarter worth $49,000. 25.20% of the stock is currently owned by institutional investors.

Karat Packaging Stock Performance

KRT stock opened at $29.74 on Friday. The firm has a market cap of $595.51 million, a PE ratio of 21.24 and a beta of 1.08. The stock has a 50-day moving average price of $29.30 and a 200-day moving average price of $27.82. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. Karat Packaging Inc. has a 1-year low of $22.51 and a 1-year high of $33.14.

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 5.38%. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.35. Karat Packaging’s payout ratio is currently 114.29%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus raised their price objective 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 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.