Karat Packaging Inc. (NASDAQ:KRT) Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP lifted its holdings in Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 186.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,366 shares of the company's stock after purchasing an additional 22,365 shares during the period. GSA Capital Partners LLP owned approximately 0.17% of Karat Packaging worth $890,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of Karat Packaging by 4.4% in the 2nd quarter. Rhumbline Advisers now owns 9,203 shares of the company's stock valued at $272,000 after buying an additional 387 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Karat Packaging by 2.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 36,922 shares of the company's stock worth $1,056,000 after acquiring an additional 710 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Karat Packaging in the 2nd quarter valued at approximately $33,000. Janney Montgomery Scott LLC increased its position in shares of Karat Packaging by 4.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 28,488 shares of the company's stock valued at $738,000 after purchasing an additional 1,148 shares during the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Karat Packaging in the 3rd quarter valued at $30,000. 25.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered Karat Packaging from a "buy" rating to a "hold" rating and dropped their target price for the company from $34.00 to $28.00 in a report on Friday, August 9th.

Karat Packaging Stock Down 2.6 %

KRT traded down $0.80 on Friday, reaching $29.48. The company's stock had a trading volume of 73,346 shares, compared to its average volume of 31,521. The company has a market capitalization of $590.19 million, a price-to-earnings ratio of 21.06 and a beta of 1.03. Karat Packaging Inc. has a fifty-two week low of $20.93 and a fifty-two week high of $31.21. The company has a quick ratio of 1.62, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $26.76 and a two-hundred day moving average of $27.40.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th will be issued a $0.40 dividend. This is a boost from Karat Packaging's previous quarterly dividend of $0.35. The ex-dividend date is Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 5.43%. Karat Packaging's dividend payout ratio is presently 100.00%.

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.