Karat Packaging Inc. (KRT) To Go Ex-Dividend on February 24th

Karat Packaging Inc. (NASDAQ:KRT) declared a quarterly dividend on Thursday, February 13th, RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.45 per share on Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.81%. 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.

Karat Packaging has a dividend payout ratio of 91.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Karat Packaging to earn $1.80 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 100.0%.

Karat Packaging Price Performance

Shares of KRT stock opened at $30.99 on Friday. Karat Packaging has a 52-week low of $23.10 and a 52-week high of $33.89. The stock has a market cap of $620.42 million, a PE ratio of 22.14 and a beta of 1.08. 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 firm’s 50 day moving average price is $30.42 and its two-hundred day moving average price is $28.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of 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 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.