Wall Street Zen downgraded shares of Karat Packaging (NASDAQ:KRT – Free Report) from a strong-buy rating to a buy rating in a research report released on Friday.
Separately, Truist Financial boosted their target price on Karat Packaging from $28.00 to $31.00 and gave the stock a “hold” rating in a report on Monday, May 12th.
View Our Latest Stock Report on KRT
Karat Packaging Trading Up 1.0%
Karat Packaging (NASDAQ:KRT – Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $101.65 million during the quarter, compared to analyst estimates of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. On average, analysts predict that Karat Packaging will post 1.66 EPS for the current year.
Karat Packaging Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 16th. This represents a $1.80 dividend on an annualized basis and a yield of 5.77%. Karat Packaging’s dividend payout ratio (DPR) is currently 120.00%.
Institutional Investors Weigh In On Karat Packaging
Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in Karat Packaging by 4,151.4% in the 1st quarter. GAMMA Investing LLC now owns 1,488 shares of the company’s stock worth $40,000 after purchasing an additional 1,453 shares during the period. Deutsche Bank AG boosted its holdings in Karat Packaging by 773.6% in the fourth quarter. Deutsche Bank AG now owns 1,590 shares of the company’s stock valued at $48,000 after acquiring an additional 1,408 shares in the last quarter. Comerica Bank lifted its position in Karat Packaging by 107.8% during the fourth quarter. Comerica Bank now owns 5,262 shares of the company’s stock valued at $159,000 after buying an additional 2,730 shares during the period. Wells Fargo & Company MN grew its stake in shares of Karat Packaging by 20.8% in the fourth quarter. Wells Fargo & Company MN now owns 5,538 shares of the company’s stock worth $168,000 after acquiring an additional 955 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Karat Packaging in the 4th quarter valued at approximately $231,000. Institutional investors own 25.20% of the company’s stock.
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.
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