Los Angeles Capital Management LLC Has $1.14 Million Stock Holdings in Karat Packaging Inc. (NASDAQ:KRT)

Los Angeles Capital Management LLC lessened its stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 30.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 44,204 shares of the company's stock after selling 19,741 shares during the period. Los Angeles Capital Management LLC owned about 0.22% of Karat Packaging worth $1,144,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. LSV Asset Management acquired a new position in Karat Packaging in the 2nd quarter worth approximately $2,359,000. Allspring Global Investments Holdings LLC purchased a new stake in Karat Packaging in the 2nd quarter worth about $1,162,000. AQR Capital Management LLC boosted its position in Karat Packaging by 37.8% during the 2nd quarter. AQR Capital Management LLC now owns 116,980 shares of the company's stock worth $3,460,000 after acquiring an additional 32,069 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Karat Packaging by 95.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,547 shares of the company's stock valued at $1,762,000 after acquiring an additional 30,137 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Karat Packaging by 11.7% in the 1st quarter. Acadian Asset Management LLC now owns 261,895 shares of the company's stock valued at $7,489,000 after purchasing an additional 27,370 shares during the period. 25.20% of the stock is owned by institutional investors.

Karat Packaging Stock Down 1.7 %

Shares of NASDAQ KRT traded down $0.52 during trading hours on Friday, hitting $29.76. The stock had a trading volume of 46,246 shares, compared to its average volume of 42,845. The company has a market capitalization of $595.91 million, a P/E ratio of 21.26 and a beta of 1.03. The firm's 50-day moving average price is $26.65 and its two-hundred day moving average price is $27.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 3.12. Karat Packaging Inc. has a 52 week low of $20.93 and a 52 week high of $31.21.

Karat Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.40 per share. This is a positive change from Karat Packaging's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.60 annualized dividend and a dividend yield of 5.38%. Karat Packaging's dividend payout ratio is 114.29%.

Analyst Ratings Changes

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

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.