20,447 Shares in Karat Packaging Inc. $KRT Bought by Walleye Capital LLC

Walleye Capital LLC acquired a new stake in Karat Packaging Inc. (NASDAQ:KRT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 20,447 shares of the company’s stock, valued at approximately $684,000.

A number of other large investors have also recently made changes to their positions in KRT. Clearstead Advisors LLC lifted its stake in Karat Packaging by 188.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock worth $34,000 after acquiring an additional 976 shares during the last quarter. CWM LLC raised its holdings in shares of Karat Packaging by 61.5% in the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after purchasing an additional 1,010 shares in the last quarter. Quarry LP purchased a new stake in shares of Karat Packaging during the 3rd quarter worth $70,000. Deutsche Bank AG grew its stake in shares of Karat Packaging by 142.8% during the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock worth $87,000 after purchasing an additional 2,271 shares in the last quarter. Finally, State of Wyoming purchased a new position in Karat Packaging in the fourth quarter valued at $122,000. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

Karat Packaging Trading Up 0.2%

Shares of Karat Packaging stock opened at $47.91 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 2.25. The company has a market capitalization of $954.85 million, a P/E ratio of 19.16, a PEG ratio of 2.07 and a beta of 0.82. Karat Packaging Inc. has a 1 year low of $20.61 and a 1 year high of $50.81. The company’s fifty day moving average is $36.49 and its two-hundred day moving average is $30.20.

Karat Packaging (NASDAQ:KRT) last announced its earnings results on Thursday, August 6th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $1.01. Karat Packaging had a net margin of 10.18% and a return on equity of 30.62%. The business had revenue of $136.30 million during the quarter, compared to the consensus estimate of $135.46 million. Analysts forecast that Karat Packaging Inc. will post 1.78 earnings per share for the current year.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, August 21st. This is an increase from Karat Packaging’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.9%. Karat Packaging’s dividend payout ratio is presently 72.00%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America upped their price objective on Karat Packaging from $23.00 to $34.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 14th. Weiss Ratings raised Karat Packaging from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Lake Street Capital reissued a “buy” rating and set a $39.00 price objective on shares of Karat Packaging in a report on Friday, May 8th. The Goldman Sachs Group cut shares of Karat Packaging to a “neutral” rating in a report on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of Karat Packaging from a “hold” rating to a “buy” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.50.

Karat Packaging Profile

Karat Packaging Technologies, Inc (NASDAQ: KRT) is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.