Karat Packaging (NASDAQ:KRT) Hits New 12-Month High – What’s Next?

Karat Packaging Inc. (NASDAQ:KRT) reached a new 52-week high on Tuesday . The company traded as high as $33.41 and last traded at $33.68, with a volume of 12042 shares. The stock had previously closed at $32.18.

Wall Street Analyst Weigh In

KRT has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. William Blair cut shares of Karat Packaging from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd.

Karat Packaging Price Performance

The company has a fifty day simple moving average of $30.46 and a two-hundred day simple moving average of $28.32. 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 capitalization of $667.77 million, a price-to-earnings ratio of 23.83 and a beta of 1.08.

Karat Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 24th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, February 24th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 5.40%. Karat Packaging’s dividend payout ratio is 114.29%.

Institutional Trading of Karat Packaging

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE purchased a new position in shares of Karat Packaging during the 3rd quarter worth about $30,000. Deutsche Bank AG increased its position in Karat Packaging by 773.6% during the fourth quarter. Deutsche Bank AG now owns 1,590 shares of the company’s stock worth $48,000 after purchasing an additional 1,408 shares during the last quarter. Copeland Capital Management LLC purchased a new position in Karat Packaging during the third quarter worth approximately $49,000. Nisa Investment Advisors LLC boosted its holdings in shares of Karat Packaging by 497.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock valued at $95,000 after purchasing an additional 3,061 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Karat Packaging by 40.8% during 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 during the period. Hedge funds and other institutional investors own 25.20% of the company’s stock.

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.