Karat Packaging Inc. (NASDAQ:KRT) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its holdings in Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 52.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,333 shares of the company's stock after acquiring an additional 18,612 shares during the period. Jacobs Levy Equity Management Inc. owned 0.27% of Karat Packaging worth $1,407,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Karat Packaging by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 348,678 shares of the company's stock valued at $9,976,000 after purchasing an additional 2,804 shares during the last quarter. Acadian Asset Management LLC raised its position in Karat Packaging by 8.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,278 shares of the company's stock worth $8,375,000 after buying an additional 21,383 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Karat Packaging by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 170,310 shares of the company's stock valued at $5,038,000 after acquiring an additional 4,408 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Karat Packaging by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 121,473 shares of the company's stock worth $3,592,000 after acquiring an additional 3,397 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Karat Packaging by 37.8% during the second quarter. AQR Capital Management LLC now owns 116,980 shares of the company's stock worth $3,460,000 after purchasing an additional 32,069 shares during the last quarter. 25.20% of the stock is owned by institutional investors.

Karat Packaging Stock Performance

NASDAQ KRT traded up $0.24 on Monday, reaching $31.45. 8,941 shares of the company's stock traded hands, compared to its average volume of 42,592. The stock has a 50 day moving average price of $28.24 and a 200-day moving average price of $27.62. The firm has a market cap of $629.63 million, a price-to-earnings ratio of 22.29 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12. Karat Packaging Inc. has a fifty-two week low of $21.56 and a fifty-two week high of $31.69.

Karat Packaging Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Wednesday, November 20th were given a dividend of $0.40 per share. This is a boost from Karat Packaging's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 5.09%. The ex-dividend date was Wednesday, November 20th. Karat Packaging's dividend payout ratio (DPR) is currently 114.29%.

Karat Packaging Company 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.