Dimensional Fund Advisors LP Acquires 12,676 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Dimensional Fund Advisors LP lifted its position in Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,946 shares of the company's stock after buying an additional 12,676 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.73% of Karat Packaging worth $4,416,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Barclays PLC boosted its holdings in Karat Packaging by 12.5% in the 3rd quarter. Barclays PLC now owns 71,153 shares of the company's stock valued at $1,843,000 after purchasing an additional 7,911 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Karat Packaging by 21.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 34,666 shares of the company's stock worth $1,049,000 after buying an additional 6,178 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Karat Packaging during the fourth quarter valued at $291,000. Harel Insurance Investments & Financial Services Ltd. grew its position in Karat Packaging by 40.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company's stock worth $157,000 after buying an additional 1,500 shares in the last quarter. Finally, Copeland Capital Management LLC increased its stake in Karat Packaging by 38.4% in the 4th quarter. Copeland Capital Management LLC now owns 2,604 shares of the company's stock worth $79,000 after acquiring an additional 722 shares during the last quarter. 25.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Truist Financial lifted their price target on Karat Packaging from $28.00 to $31.00 and gave the company a "hold" rating in a research report on Monday.

Karat Packaging Price Performance

Shares of Karat Packaging stock traded up $0.75 on Friday, hitting $31.27. 96,942 shares of the company traded hands, compared to its average volume of 40,154. Karat Packaging Inc. has a 12-month low of $23.00 and a 12-month high of $33.89. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The company has a market cap of $627.28 million, a P/E ratio of 22.34 and a beta of 1.12. The firm's 50-day simple moving average is $26.82 and its 200 day simple moving average is $29.02.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. The firm had revenue of $101.65 million for the quarter, compared to analysts' expectations of $102.27 million. Analysts expect that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, May 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.76%. Karat Packaging's dividend payout ratio is 120.00%.

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.