Harel Insurance Investments & Financial Services Ltd. Has $2.43 Million Stock Holdings in Karat Packaging Inc. $KRT

Key Points

• Harel Insurance Investments & Financial Services Ltd. raised its stake in Karat Packaging by 87.2% in Q4 to 107,730 shares, representing 0.54% of the company and worth $2.43 million.
• Karat Packaging beat expectations with Q EPS of $0.34 versus $0.28 and revenue of $115.62M versus $113.95M, yielding a 6.73% net margin and 19.63% return on equity.
• The company announced a quarterly dividend of $0.45 (annualized $1.80) for a 6.1% yield

Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 87.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,730 shares of the company's stock after purchasing an additional 50,178 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned 0.54% of Karat Packaging worth $2,431,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of KRT. KTF Investments LLC bought a new stake in shares of Karat Packaging during the 4th quarter worth $5,075,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Karat Packaging in the third quarter valued at about $5,039,000. Marshall Wace LLP acquired a new stake in shares of Karat Packaging in the second quarter valued at about $4,312,000. CWA Asset Management Group LLC acquired a new stake in shares of Karat Packaging in the fourth quarter valued at about $2,398,000. Finally, North Star Investment Management Corp. acquired a new stake in shares of Karat Packaging in the fourth quarter valued at about $1,377,000. 25.20% of the stock is owned by institutional investors.

Karat Packaging Stock Up 1.5%

NASDAQ KRT opened at $29.37 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.13 and a current ratio of 2.30. The firm has a 50-day simple moving average of $27.14 and a 200 day simple moving average of $24.93. Karat Packaging Inc. has a twelve month low of $20.61 and a twelve month high of $32.68. The stock has a market cap of $586.34 million, a PE ratio of 18.83, a PEG ratio of 1.13 and a beta of 0.93.

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

Karat Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, February 20th. Karat Packaging's dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analyst Weigh In

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

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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