20,274 Shares in Karat Packaging Inc. $KRT Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new stake in Karat Packaging Inc. (NASDAQ:KRT) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 20,274 shares of the company’s stock, valued at approximately $678,000.

Other hedge funds also recently bought and sold shares of the company. Clearstead Advisors LLC grew its position in shares of Karat Packaging by 188.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock valued at $34,000 after purchasing an additional 976 shares in the last quarter. CWM LLC raised its holdings in shares of Karat Packaging by 61.5% during the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after buying an additional 1,010 shares in the last quarter. Quarry LP bought a new stake in shares of Karat Packaging in the 3rd quarter worth approximately $70,000. Deutsche Bank AG lifted its stake in Karat Packaging by 142.8% in 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 during the last quarter. Finally, State of Wyoming bought a new stake in shares of Karat Packaging in the 4th quarter valued at about $122,000. Hedge funds and other institutional investors own 25.20% of the company’s stock.

Karat Packaging Trading Up 0.6%

Shares of NASDAQ:KRT opened at $48.17 on Thursday. Karat Packaging Inc. has a 12-month low of $20.61 and a 12-month high of $50.81. The company has a current ratio of 2.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. The company has a market cap of $960.03 million, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. The stock has a 50 day moving average of $37.61 and a 200 day moving average of $30.75.

Karat Packaging (NASDAQ:KRT) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $1.01. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%.The business had revenue of $136.30 million for the quarter, compared to analysts’ expectations of $135.46 million. As a group, equities research analysts expect that Karat Packaging Inc. will post 2.63 EPS for the current year.

Karat Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 21st will be given a $0.47 dividend. This is a boost from Karat Packaging’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, August 21st. Karat Packaging’s dividend payout ratio (DPR) is presently 72.00%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KRT. Zacks Research cut shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Lake Street Capital reaffirmed a “buy” rating and issued a $39.00 price target on shares of Karat Packaging in a research note on Friday, May 8th. The Goldman Sachs Group downgraded shares of Karat Packaging to a “neutral” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded Karat Packaging from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, William Blair upgraded shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 4th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Karat Packaging currently has a consensus rating of “Hold” and a consensus price target of $36.50.

Karat Packaging Company 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.