Karat Packaging Inc. (NASDAQ:KRT) Shares Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC lifted its position in shares of Karat Packaging Inc. (NASDAQ:KRT) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,783 shares of the company’s stock after purchasing an additional 1,381 shares during the quarter. Ellsworth Advisors LLC owned 0.11% of Karat Packaging worth $564,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new position in Karat Packaging in the 2nd quarter worth about $33,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Karat Packaging in the second quarter valued at approximately $52,000. SG Americas Securities LLC purchased a new stake in shares of Karat Packaging in the first quarter valued at approximately $115,000. Caxton Associates LP acquired a new position in shares of Karat Packaging during the 1st quarter worth approximately $210,000. Finally, Rhumbline Advisers lifted its position in shares of Karat Packaging by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 9,203 shares of the company’s stock valued at $272,000 after buying an additional 387 shares in the last quarter. 25.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut shares of Karat Packaging from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $34.00 to $28.00 in a research report on Friday, August 9th.

Karat Packaging Trading Down 0.6 %

KRT stock opened at $27.59 on Friday. Karat Packaging Inc. has a 12-month low of $17.23 and a 12-month high of $30.94. The business’s 50-day moving average is $25.65 and its 200 day moving average is $27.33. The company has a current ratio of 3.05, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. The stock has a market cap of $551.11 million, a price-to-earnings ratio of 18.64 and a beta of 1.03.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.11). Karat Packaging had a return on equity of 19.79% and a net margin of 6.90%. The firm had revenue of $112.60 million during the quarter, compared to analyst estimates of $114.03 million. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, sell-side analysts anticipate that Karat Packaging Inc. will post 1.84 EPS for the current fiscal year.

Karat Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 21st were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend was Wednesday, August 21st. Karat Packaging’s dividend payout ratio (DPR) is 94.59%.

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.