Ranger Investment Management L.P. Takes $11.13 Million Position in Karat Packaging Inc. $KRT

Ranger Investment Management L.P. purchased a new stake in Karat Packaging Inc. (NASDAQ:KRT) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 332,596 shares of the company’s stock, valued at approximately $11,129,000. Ranger Investment Management L.P. owned about 1.67% of Karat Packaging at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in KRT. Clearstead Advisors LLC lifted its stake in Karat Packaging by 188.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock valued at $34,000 after buying an additional 976 shares in the last quarter. CWM LLC increased its position in shares of Karat Packaging by 61.5% in the fourth quarter. CWM LLC now owns 2,651 shares of the company’s stock worth $60,000 after acquiring an additional 1,010 shares in the last quarter. Quarry LP purchased a new position in shares of Karat Packaging in the third quarter worth approximately $70,000. Deutsche Bank AG raised its holdings 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 valued at $87,000 after acquiring an additional 2,271 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Karat Packaging during the fourth quarter valued at approximately $122,000. 25.20% of the stock is currently owned by institutional investors.

Karat Packaging Price Performance

Shares of NASDAQ:KRT opened at $48.05 on Monday. The business has a 50 day moving average price of $38.33 and a 200 day moving average price of $31.08. Karat Packaging Inc. has a twelve month low of $20.61 and a twelve month high of $50.81. The company has a market cap of $957.64 million, a price-to-earnings ratio of 19.22, a PEG ratio of 1.41 and a beta of 0.82. The company has a quick ratio of 1.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.13.

Karat Packaging (NASDAQ:KRT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.48 EPS for the quarter, topping 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 company had revenue of $136.30 million during the quarter, compared to the consensus estimate of $135.46 million. Research analysts predict that Karat Packaging Inc. will post 2.63 earnings per share for the current year.

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 21st will be paid a $0.47 dividend. 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 yield of 3.9%. The ex-dividend date of this dividend is Friday, August 21st. Karat Packaging’s payout ratio is presently 75.20%.

Analyst Ratings Changes

Several analysts have recently commented on KRT shares. Weiss Ratings raised Karat Packaging from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Wall Street Zen raised Karat Packaging from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Lake Street Capital reissued a “buy” rating and issued a $39.00 price objective 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 report on Thursday, June 4th. Finally, William Blair raised shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.50.

About Karat Packaging

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.