Corient Private Wealth LLC Sells 4,422 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Corient Private Wealth LLC lowered its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 10.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 38,600 shares of the company’s stock after selling 4,422 shares during the period. Corient Private Wealth LLC owned 0.19% of Karat Packaging worth $1,168,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of Karat Packaging by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 178,645 shares of the company’s stock worth $4,626,000 after buying an additional 24,020 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Karat Packaging by 52.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 54,333 shares of the company’s stock worth $1,407,000 after acquiring an additional 18,612 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Karat Packaging during the fourth quarter worth approximately $291,000. Barclays PLC boosted its holdings in shares of Karat Packaging by 12.5% during the third quarter. Barclays PLC now owns 71,153 shares of the company’s stock worth $1,843,000 after acquiring an additional 7,911 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Karat Packaging by 21.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 34,666 shares of the company’s stock worth $1,049,000 after purchasing an additional 6,178 shares during the period. Institutional investors and hedge funds own 25.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on KRT shares. William Blair lowered Karat Packaging from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Stifel Nicolaus upped their price target 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.

Karat Packaging Trading Down 0.5 %

Shares of KRT stock opened at $27.92 on Thursday. The stock has a 50 day simple moving average of $30.14 and a 200 day simple moving average of $29.01. Karat Packaging Inc. has a 1 year low of $23.10 and a 1 year high of $33.89. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a market cap of $559.43 million, a P/E ratio of 19.94 and a beta of 1.08.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $101.65 million during the quarter, compared to the consensus estimate of $102.27 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. On average, research analysts predict that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 24th were given a dividend of $0.45 per share. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 annualized dividend and a dividend yield of 6.45%. Karat Packaging’s dividend payout ratio (DPR) is currently 120.81%.

Karat Packaging 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.