Karat Packaging (NASDAQ:KRT) Sees Unusually-High Trading Volume - Here's Why

Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 28,143 shares traded hands during trading, a decline of 18% from the previous session's volume of 34,453 shares.The stock last traded at $30.77 and had previously closed at $31.05.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Karat Packaging from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. William Blair lowered Karat Packaging from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

Karat Packaging Trading Up 0.2 %

The firm has a market capitalization of $629.03 million, a P/E ratio of 22.44 and a beta of 1.08. The business's 50 day moving average is $30.32 and its two-hundred day moving average is $28.10. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.04). The company had revenue of $112.77 million for the quarter, compared to the consensus estimate of $113.58 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. During the same quarter last year, the firm posted $0.47 earnings per share. Analysts expect that Karat Packaging Inc. will post 1.66 EPS for the current year.

Karat Packaging Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KRT. AQR Capital Management LLC lifted its holdings in Karat Packaging by 37.8% in the 2nd quarter. AQR Capital Management LLC now owns 116,980 shares of the company's stock valued at $3,460,000 after acquiring an additional 32,069 shares during the last quarter. Geode Capital Management LLC lifted its stake in Karat Packaging by 15.5% during the third quarter. Geode Capital Management LLC now owns 178,645 shares of the company's stock valued at $4,626,000 after purchasing an additional 24,020 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Karat Packaging by 186.4% during the third quarter. GSA Capital Partners LLP now owns 34,366 shares of the company's stock worth $890,000 after buying an additional 22,365 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Karat Packaging by 52.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 54,333 shares of the company's stock worth $1,407,000 after buying an additional 18,612 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in Karat Packaging in the third quarter worth approximately $401,000. Institutional investors own 25.20% of the company's stock.

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.