Barclays PLC Sells 33,090 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Barclays PLC reduced its position in Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 46.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,063 shares of the company's stock after selling 33,090 shares during the period. Barclays PLC owned 0.19% of Karat Packaging worth $1,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in Karat Packaging by 15.5% in the third quarter. Geode Capital Management LLC now owns 178,645 shares of the company's stock worth $4,626,000 after purchasing an additional 24,020 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Karat Packaging by 28.0% in the 4th quarter. Russell Investments Group Ltd. now owns 79,645 shares of the company's stock worth $2,410,000 after purchasing an additional 17,419 shares in the last quarter. Trexquant Investment LP purchased a new position in Karat Packaging during the 4th quarter worth $352,000. Martingale Asset Management L P acquired a new position in Karat Packaging during the 4th quarter valued at about $339,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Karat Packaging in the fourth quarter valued at about $291,000. Hedge funds and other institutional investors own 25.20% of the company's stock.

Karat Packaging Price Performance

Shares of NASDAQ KRT opened at $26.90 on Monday. Karat Packaging Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $33.89. The company has a market cap of $539.00 million, a PE ratio of 19.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12. The business has a 50-day simple moving average of $26.97 and a two-hundred day simple moving average of $28.93.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released 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 company had revenue of $101.65 million for the quarter, compared to analysts' expectations of $102.27 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. As a group, equities analysts expect that Karat Packaging Inc. will post 1.66 EPS for the current fiscal year.

Karat Packaging Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Monday, February 24th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.80 dividend on an annualized basis and a yield of 6.69%. This is a boost from Karat Packaging's previous quarterly dividend of $0.40. Karat Packaging's payout ratio is currently 120.81%.

About Karat Packaging

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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