Karat Packaging Inc. (NASDAQ:KRT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 346,160 shares of the company's stock after selling 78,700 shares during the period. Wellington Management Group LLP owned approximately 1.73% of Karat Packaging worth $10,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. lifted its position in Karat Packaging by 3.4% in the fourth quarter. American Century Companies Inc. now owns 187,549 shares of the company's stock worth $5,675,000 after buying an additional 6,224 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Karat Packaging by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 178,645 shares of the company's stock worth $4,626,000 after acquiring an additional 24,020 shares during the last quarter. Barclays PLC boosted its stake in shares of Karat Packaging by 12.5% during the 3rd quarter. Barclays PLC now owns 71,153 shares of the company's stock worth $1,843,000 after purchasing an additional 7,911 shares during the period. Janney Montgomery Scott LLC grew its holdings in Karat Packaging by 21.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 34,666 shares of the company's stock valued at $1,049,000 after purchasing an additional 6,178 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Karat Packaging by 7.1% in the 3rd quarter. Janus Henderson Group PLC now owns 26,567 shares of the company's stock worth $688,000 after purchasing an additional 1,760 shares during the period. Institutional investors own 25.20% of the company's stock.

Karat Packaging Stock Up 1.2 %

Shares of KRT stock traded up $0.29 during trading hours on Tuesday, reaching $25.02. 12,798 shares of the company's stock were exchanged, compared to its average volume of 38,082. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The company has a market cap of $501.35 million, a price-to-earnings ratio of 17.88 and a beta of 1.12. Karat Packaging Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $33.89. The stock's 50 day moving average is $28.55 and its 200-day moving average is $29.00.

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

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 24th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.19%. This is a positive change from Karat Packaging's previous quarterly dividend of $0.40. Karat Packaging's dividend payout ratio (DPR) is presently 120.81%.

Wall Street Analyst Weigh In

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

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.