Copeland Capital Management LLC Buys New Stake in Karat Packaging Inc. (NASDAQ:KRT)

Copeland Capital Management LLC bought a new stake in Karat Packaging Inc. (NASDAQ:KRT) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,882 shares of the company’s stock, valued at approximately $49,000.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in shares of Karat Packaging by 95.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,547 shares of the company’s stock valued at $1,762,000 after buying an additional 30,137 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Karat Packaging by 11.7% during the 1st quarter. Acadian Asset Management LLC now owns 261,895 shares of the company’s stock worth $7,489,000 after purchasing an additional 27,370 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Karat Packaging during the 2nd quarter worth $1,162,000. Gladius Capital Management LP acquired a new stake in Karat Packaging during the 2nd quarter worth $33,000. Finally, Janney Montgomery Scott LLC boosted its stake in Karat Packaging by 8.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,444 shares of the company’s stock worth $757,000 after purchasing an additional 2,096 shares during the period. 25.20% of the stock is owned by hedge funds and other institutional investors.

Karat Packaging Stock Down 0.1 %

KRT stock opened at $26.90 on Wednesday. Karat Packaging Inc. has a one year low of $17.23 and a one year high of $30.94. The stock has a market capitalization of $537.33 million, a PE ratio of 18.18 and a beta of 1.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 3.05. The company has a fifty day moving average of $25.70 and a 200-day moving average of $27.31.

Karat Packaging (NASDAQ:KRT) last released its earnings results on Thursday, August 8th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.11). Karat Packaging had a return on equity of 19.79% and a net margin of 6.90%. The firm had revenue of $112.60 million during the quarter, compared to analyst estimates of $114.03 million. During the same quarter last year, the business posted $0.68 EPS. As a group, analysts expect that Karat Packaging Inc. will post 1.84 EPS for the current year.

Karat Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Wednesday, August 21st. Karat Packaging’s dividend payout ratio (DPR) is presently 94.59%.

Wall Street Analysts Forecast Growth

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

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.