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Karat Packaging Inc. (NASDAQ:KRT) CEO Alan Yu Sells 750,000 Shares

Karat Packaging logo with Industrials background

Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) CEO Alan Yu sold 750,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $27.00, for a total value of $20,250,000.00. Following the sale, the chief executive officer now owns 6,203,805 shares in the company, valued at approximately $167,502,735. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Karat Packaging Stock Performance

Shares of NASDAQ:KRT traded up $0.46 during trading on Monday, reaching $26.90. The stock had a trading volume of 81,653 shares, compared to its average volume of 45,135. The firm has a market capitalization of $540.07 million, a price-to-earnings ratio of 19.21 and a beta of 1.19. The stock has a fifty day simple moving average of $28.12 and a two-hundred day simple moving average of $29.23. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. Karat Packaging Inc. has a 52 week low of $23.00 and a 52 week high of $33.89.

Karat Packaging (NASDAQ:KRT - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $101.65 million for 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%. As a group, analysts anticipate that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors 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 annualized dividend and a yield of 6.69%. Karat Packaging's dividend payout ratio (DPR) is 120.00%.

Institutional Investors Weigh In On Karat Packaging

A number of institutional investors and hedge funds have recently made changes to their positions in KRT. Citadel Advisors LLC increased its stake in Karat Packaging by 91.1% in the fourth quarter. Citadel Advisors LLC now owns 34,344 shares of the company's stock valued at $1,039,000 after purchasing an additional 16,371 shares in the last quarter. Barclays PLC grew its stake in shares of Karat Packaging by 12.5% in the third quarter. Barclays PLC now owns 71,153 shares of the company's stock valued at $1,843,000 after buying an additional 7,911 shares in the last quarter. Northern Trust Corp lifted its stake in Karat Packaging by 5.2% in the 4th quarter. Northern Trust Corp now owns 56,330 shares of the company's stock valued at $1,705,000 after purchasing an additional 2,762 shares during the last quarter. Stifel Financial Corp bought a new position in Karat Packaging during the fourth quarter worth $436,000. Finally, Millennium Management LLC grew its holdings in Karat Packaging by 108.5% in the 4th quarter. Millennium Management LLC now owns 84,038 shares of the company's stock valued at $2,543,000 after buying an additional 43,740 shares in the last quarter. Institutional investors own 25.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KRT shares. Truist Financial raised their price target on shares of Karat Packaging from $28.00 to $31.00 and gave the stock a "hold" rating in a research report on Monday, May 12th. Wall Street Zen raised shares of Karat Packaging from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

Check Out Our Latest Stock Report on KRT

Karat Packaging Company Profile

(Get Free Report)

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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