Karat Packaging Inc. (NASDAQ:KRT) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 15.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,645 shares of the company’s stock after purchasing an additional 24,020 shares during the quarter. Geode Capital Management LLC’s holdings in Karat Packaging were worth $4,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE purchased a new position in Karat Packaging during the 3rd quarter valued at about $30,000. Copeland Capital Management LLC purchased a new stake in shares of Karat Packaging during the third quarter worth $49,000. Nisa Investment Advisors LLC raised its stake in shares of Karat Packaging by 497.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock valued at $95,000 after acquiring an additional 3,061 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Karat Packaging by 4.4% in 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 during the period. Finally, Kings Path Partners LLC acquired a new position in Karat Packaging during the 3rd quarter worth approximately $401,000. 25.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. William Blair cut Karat Packaging from an “outperform” rating to a “market perform” rating in a research note on Thursday. Stifel Nicolaus boosted 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.

Karat Packaging Stock Performance

NASDAQ KRT opened at $30.24 on Monday. Karat Packaging Inc. has a 52-week low of $22.51 and a 52-week high of $33.14. The business’s 50-day moving average price is $30.00 and its 200 day moving average price is $27.96. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. The firm has a market cap of $605.53 million, a P/E ratio of 21.60 and a beta of 1.08.

Karat Packaging Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Wednesday, November 20th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.29%. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, November 20th. Karat Packaging’s dividend payout ratio (DPR) is 114.29%.

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.