Karat Packaging Inc. (NASDAQ:KRT) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its stake in shares of Karat Packaging Inc. (NASDAQ:KRT) by 103.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,723 shares of the company’s stock after purchasing an additional 875 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Karat Packaging were worth $43,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KRT. Acadian Asset Management LLC increased its stake in Karat Packaging by 484.5% in the third quarter. Acadian Asset Management LLC now owns 183,620 shares of the company’s stock valued at $4,229,000 after purchasing an additional 152,207 shares during the period. Rice Hall James & Associates LLC acquired a new position in Karat Packaging in the third quarter valued at $1,937,000. Corient Private Wealth LLC acquired a new position in Karat Packaging in the fourth quarter valued at $1,677,000. EAM Investors LLC acquired a new position in Karat Packaging in the third quarter valued at $1,390,000. Finally, Los Angeles Capital Management LLC acquired a new position in Karat Packaging in the third quarter valued at $1,173,000. 25.20% of the stock is currently owned by institutional investors and hedge funds.

Karat Packaging Price Performance

KRT stock traded up $0.52 during trading on Thursday, reaching $27.83. 20,023 shares of the company were exchanged, compared to its average volume of 46,897. The company has a market cap of $555.77 million, a P/E ratio of 17.18 and a beta of 1.06. Karat Packaging Inc. has a 52-week low of $13.43 and a 52-week high of $30.94. The stock’s 50 day moving average price is $28.11 and its 200 day moving average price is $24.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.88 and a current ratio of 3.49.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings data on Thursday, March 14th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.16). The company had revenue of $95.58 million for the quarter, compared to analysts’ expectations of $95.51 million. Karat Packaging had a return on equity of 22.54% and a net margin of 8.00%. As a group, analysts predict that Karat Packaging Inc. will post 1.92 earnings per share for the current fiscal year.

Karat Packaging Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $1.20 dividend on an annualized basis and a yield of 4.31%. This is a boost from Karat Packaging’s previous quarterly dividend of $0.20. Karat Packaging’s payout ratio is presently 74.07%.

Analyst Ratings Changes

A number of research analysts have commented on KRT shares. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Karat Packaging in a research note on Friday, March 15th. Truist Financial lifted their target price on shares of Karat Packaging from $24.00 to $33.00 and gave the company a “buy” rating in a report on Friday, March 15th.

Karat Packaging Company 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.