Nisa Investment Advisors LLC Increases Stake in Karat Packaging Inc. (NASDAQ:KRT)

Nisa Investment Advisors LLC lifted its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 497.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,676 shares of the company’s stock after buying an additional 3,061 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Karat Packaging were worth $95,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Gladius Capital Management LP acquired a new stake in Karat Packaging in the 2nd quarter worth about $33,000. Copeland Capital Management LLC acquired a new position in Karat Packaging during the 3rd quarter worth $49,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Karat Packaging in the 2nd quarter valued at approximately $52,000. SG Americas Securities LLC acquired a new stake in Karat Packaging during the first quarter worth about $115,000. Finally, Caxton Associates LP bought a new stake in Karat Packaging in the first quarter valued at $210,000. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

Karat Packaging Stock Performance

Shares of NASDAQ KRT opened at $29.35 on Friday. The company has a market capitalization of $587.44 million, a P/E ratio of 21.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.05 and a quick ratio of 1.62. Karat Packaging Inc. has a one year low of $17.23 and a one year high of $30.94. The business’s 50-day moving average price is $26.01 and its two-hundred day moving average price is $27.25.

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 the consensus estimate of $0.60 by ($0.11). Karat Packaging had a net margin of 6.90% and a return on equity of 19.79%. The business 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 business posted $0.68 earnings per share. Analysts anticipate that Karat Packaging Inc. will post 1.84 earnings per share for the current fiscal year.

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 20th will be paid a $0.40 dividend. This is a boost from Karat Packaging’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.45%. Karat Packaging’s dividend payout ratio is currently 114.29%.

Analysts Set New Price Targets

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

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.