LSV Asset Management Reduces Stock Position in Karat Packaging Inc. (NASDAQ:KRT)

LSV Asset Management decreased its stake in Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,520 shares of the company's stock after selling 31,400 shares during the period. LSV Asset Management owned about 0.52% of Karat Packaging worth $3,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KRT. Charles Schwab Investment Management Inc. increased its stake in Karat Packaging by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company's stock valued at $511,000 after acquiring an additional 1,053 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Karat Packaging by 7.1% during the 3rd quarter. Janus Henderson Group PLC now owns 26,567 shares of the company's stock valued at $688,000 after purchasing an additional 1,760 shares during the last quarter. Barclays PLC increased its position in shares of Karat Packaging by 12.5% during the 3rd quarter. Barclays PLC now owns 71,153 shares of the company's stock valued at $1,843,000 after purchasing an additional 7,911 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Karat Packaging by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 178,645 shares of the company's stock valued at $4,626,000 after buying an additional 24,020 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Karat Packaging by 21.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 34,666 shares of the company's stock worth $1,049,000 after buying an additional 6,178 shares during the last quarter. Hedge funds and other institutional investors own 25.20% of the company's stock.

Karat Packaging Trading Down 0.3 %

Karat Packaging stock traded down $0.07 during mid-day trading on Friday, hitting $24.39. The company's stock had a trading volume of 65,178 shares, compared to its average volume of 38,291. The business has a 50 day moving average price of $28.22 and a 200-day moving average price of $28.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.82. Karat Packaging Inc. has a 12 month low of $23.00 and a 12 month high of $33.89. The stock has a market cap of $488.70 million, a price-to-earnings ratio of 17.42 and a beta of 1.12.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its earnings results on Thursday, March 13th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. The company had revenue of $101.65 million during the quarter, compared to the consensus estimate of $102.27 million. As a group, analysts forecast that Karat Packaging Inc. will post 1.66 EPS for the current year.

Karat Packaging Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 24th were issued a $0.45 dividend. This is a boost from Karat Packaging's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 7.38%. Karat Packaging's dividend payout ratio (DPR) is currently 120.81%.

Analyst Ratings Changes

Separately, William Blair cut shares of Karat Packaging from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

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.