De Lisle Partners LLP Buys New Position in Karat Packaging Inc. $KRT

De Lisle Partners LLP bought a new stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 218,443 shares of the company's stock, valued at approximately $7,307,000. De Lisle Partners LLP owned about 1.10% of Karat Packaging at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KRT. Clearstead Advisors LLC grew its position in shares of Karat Packaging by 188.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company's stock valued at $34,000 after acquiring an additional 976 shares during the period. CWM LLC raised its holdings in Karat Packaging by 61.5% in the 4th quarter. CWM LLC now owns 2,651 shares of the company's stock worth $60,000 after purchasing an additional 1,010 shares during the period. Quarry LP purchased a new position in Karat Packaging during the third quarter valued at $70,000. Deutsche Bank AG lifted its position in Karat Packaging by 142.8% during the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company's stock valued at $87,000 after purchasing an additional 2,271 shares in the last quarter. Finally, Bard Associates Inc. bought a new stake in Karat Packaging during the second quarter valued at about $167,000. 25.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on KRT. Wall Street Zen raised Karat Packaging from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Zacks Research lowered shares of Karat Packaging from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 12th. William Blair upgraded shares of Karat Packaging from a "market perform" rating to an "outperform" rating in a research note on Thursday, June 4th. Bank of America lifted their price target on shares of Karat Packaging from $23.00 to $34.00 and gave the company an "underperform" rating in a report on Tuesday, July 14th. Finally, Lake Street Capital reiterated a "buy" rating and issued a $39.00 price target on shares of Karat Packaging in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.50.

Karat Packaging Price Performance

Shares of Karat Packaging stock opened at $48.05 on Friday. The company has a market capitalization of $957.64 million, a price-to-earnings ratio of 19.22, a PEG ratio of 1.41 and a beta of 0.82. The company has a quick ratio of 1.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.13. The stock's 50-day simple moving average is $38.33 and its 200-day simple moving average is $31.03. Karat Packaging Inc. has a 52 week low of $20.61 and a 52 week high of $50.81.

Karat Packaging (NASDAQ:KRT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $1.01. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%.The company had revenue of $136.30 million for the quarter, compared to the consensus estimate of $135.46 million. As a group, analysts expect that Karat Packaging Inc. will post 2.63 earnings per share for the current fiscal year.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 21st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.9%. This is a boost from Karat Packaging's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 21st. Karat Packaging's payout ratio is presently 72.00%.

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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