Karat Packaging (NASDAQ:KRT) Price Target Raised to $31.00

by · The Cerbat Gem

Karat Packaging (NASDAQ:KRT – Free Report) had its price objective raised by Truist Financial from $28.00 to $31.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a hold rating on the stock.

Karat Packaging Stock Up 1.4%

NASDAQ:KRT opened at $30.69 on Monday. The stock’s fifty day moving average price is $26.77 and its two-hundred day moving average price is $28.98. Karat Packaging has a 52-week low of $23.00 and a 52-week high of $33.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12. The company has a market cap of $614.94 million, a price-to-earnings ratio of 21.92 and a beta of 1.12.

Karat Packaging (NASDAQ:KRT – Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $101.65 million for the quarter, compared to the consensus estimate of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. On average, analysts anticipate that Karat Packaging will post 1.66 EPS for the current year.

Karat Packaging Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, May 16th. Karat Packaging’s payout ratio is 120.00%.

Institutional Trading of Karat Packaging

Several institutional investors and hedge funds have recently made changes to their positions in KRT. Barclays PLC raised 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 acquiring an additional 7,911 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of 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 acquiring an additional 6,178 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Karat Packaging during the 4th quarter valued at $291,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Karat Packaging by 40.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company’s stock valued at $157,000 after buying an additional 1,500 shares in the last quarter. Finally, Copeland Capital Management LLC increased its position in shares of Karat Packaging by 38.4% in the 4th quarter. Copeland Capital Management LLC now owns 2,604 shares of the company’s stock valued at $79,000 after buying an additional 722 shares in the last quarter. Institutional investors own 25.20% of the company’s stock.

Karat Packaging Company Profile

(Get Free Report)

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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