Dimensional Fund Advisors LP Increases Holdings in Karat Packaging Inc. (NASDAQ:KRT)

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

Other institutional investors have also added to or reduced their stakes in the company. Martingale Asset Management L P bought a new position in shares of Karat Packaging during the 4th quarter worth approximately $339,000. Renaissance Technologies LLC raised its position in shares of Karat Packaging by 7.1% during the fourth quarter. Renaissance Technologies LLC now owns 40,815 shares of the company's stock worth $1,235,000 after purchasing an additional 2,700 shares during the period. Russell Investments Group Ltd. raised its position in shares of Karat Packaging by 28.0% during the fourth 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 during the period. Wells Fargo & Company MN raised its position in shares of Karat Packaging by 20.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock worth $168,000 after purchasing an additional 955 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Karat Packaging during the fourth quarter worth approximately $352,000. 25.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial upped their target price on Karat Packaging from $28.00 to $31.00 and gave the stock a "hold" rating in a research report on Monday, May 12th.

Karat Packaging Stock Up 2.5%

NASDAQ KRT traded up $0.75 on Friday, reaching $31.27. The company had a trading volume of 96,942 shares, compared to its average volume of 40,139. The stock has a market capitalization of $627.28 million, a P/E ratio of 22.34 and a beta of 1.12. The company's fifty day moving average is $26.86 and its 200 day moving average is $29.08. Karat Packaging Inc. has a 52-week low of $23.00 and a 52-week high of $33.89. 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 (NASDAQ:KRT - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). The company had revenue of $101.65 million during the quarter, compared to analysts' expectations of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. Sell-side analysts anticipate that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Announces Dividend

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

Karat Packaging 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.