61,000 Shares in Karat Packaging Inc. $KRT Purchased by North Star Investment Management Corp.

Key Points

• North Star Investment Management acquired 61,000 shares of Karat Packaging (NASDAQ:KRT) in Q4, a new position valued at about $1.377 million and representing roughly 0.30% of the company.
• Karat declared a quarterly dividend of $0.45 (annualized $1.80) for a 6.3% yield
• The company beat estimates with Q results of $0.34 EPS vs. $0.28 expected and $115.62M revenue, but analysts remain mixed—consensus rating "Hold" with a $27.50 price target.

North Star Investment Management Corp. acquired a new position in Karat Packaging Inc. (NASDAQ:KRT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 61,000 shares of the company's stock, valued at approximately $1,377,000. North Star Investment Management Corp. owned approximately 0.30% of Karat Packaging at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of KRT. State of Alaska Department of Revenue purchased a new position in Karat Packaging in the third quarter valued at about $27,000. CWM LLC increased its position in Karat Packaging by 378.4% in the 3rd quarter. CWM LLC now owns 1,641 shares of the company's stock worth $41,000 after purchasing an additional 1,298 shares during the last quarter. Quarry LP acquired a new position in Karat Packaging in the 3rd quarter worth about $70,000. Jane Street Group LLC acquired a new position in Karat Packaging in the 1st quarter worth about $219,000. Finally, Prelude Capital Management LLC acquired a new position in Karat Packaging in the 3rd quarter worth about $227,000. 25.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KRT has been the topic of several research reports. Zacks Research raised Karat Packaging from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 20th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Karat Packaging in a research report on Thursday, January 22nd. Bank of America set a $24.00 target price on Karat Packaging and gave the stock an "underperform" rating in a research report on Friday, March 13th. Finally, Wall Street Zen raised Karat Packaging from a "buy" rating to a "strong-buy" rating in a research report on Sunday, March 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.50.

Karat Packaging Price Performance

Shares of NASDAQ:KRT opened at $28.69 on Friday. Karat Packaging Inc. has a fifty-two week low of $20.61 and a fifty-two week high of $32.68. The business has a 50-day moving average of $27.06 and a two-hundred day moving average of $24.89. The stock has a market capitalization of $572.65 million, a P/E ratio of 18.39, a P/E/G ratio of 1.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.30 and a quick ratio of 1.13.

Karat Packaging (NASDAQ:KRT - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.06. Karat Packaging had a return on equity of 19.63% and a net margin of 6.73%.The company had revenue of $115.62 million during the quarter, compared to analysts' expectations of $113.95 million. On average, equities research analysts predict that Karat Packaging Inc. will post 1.98 EPS for the current fiscal year.

Karat Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.3%. Karat Packaging's payout ratio is currently 115.38%.

Karat Packaging Profile

Karat Packaging Technologies, Inc NASDAQ: KRT is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.

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