Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $30.26, but opened at $29.65. Karat Packaging shares last traded at $29.93, with a volume of 5,651 shares trading hands.
Analyst Ratings Changes
A number of equities research analysts have weighed in on KRT shares. William Blair downgraded Karat Packaging from an "outperform" rating to a "market perform" rating in a research report on Thursday. Stifel Nicolaus raised their price objective on Karat Packaging from $32.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, December 11th.
Check Out Our Latest Report on KRT
Karat Packaging Stock Performance
The company has a market cap of $597.52 million, a P/E ratio of 21.31 and a beta of 1.08. The company's fifty day moving average is $29.87 and its 200 day moving average is $27.95. 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 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 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 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Wednesday, November 20th. Karat Packaging's dividend payout ratio (DPR) is 114.29%.
Institutional Trading of Karat Packaging
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE bought a new stake in shares of Karat Packaging in the third quarter worth about $30,000. Copeland Capital Management LLC purchased a new stake in Karat Packaging in the 3rd quarter worth approximately $49,000. Nisa Investment Advisors LLC grew its position in shares of Karat Packaging by 497.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company's stock worth $95,000 after buying an additional 3,061 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Karat Packaging by 4.4% during the second 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. Finally, Kings Path Partners LLC bought a new position in shares of Karat Packaging during the third quarter valued at approximately $401,000. Institutional investors own 25.20% of the company's stock.
About Karat Packaging
(
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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.
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