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

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.

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.