Ranger Investment Management L.P. raised its stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 8.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 325,104 shares of the company's stock after buying an additional 24,405 shares during the period. Ranger Investment Management L.P. owned about 1.63% of Karat Packaging worth $9,077,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Clearstead Advisors LLC boosted its stake in shares of Karat Packaging by 188.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company's stock worth $34,000 after buying an additional 976 shares during the last quarter. CWM LLC raised its position in Karat Packaging by 61.5% during the fourth quarter. CWM LLC now owns 2,651 shares of the company's stock valued at $60,000 after acquiring an additional 1,010 shares in the last quarter. Quarry LP purchased a new position in Karat Packaging during the third quarter valued at approximately $70,000. Deutsche Bank AG lifted its holdings in Karat Packaging by 142.8% in the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company's stock valued at $87,000 after acquiring an additional 2,271 shares during the period. Finally, State of Wyoming acquired a new position in Karat Packaging in the fourth quarter valued at approximately $122,000. Institutional investors and hedge funds own 25.20% of the company's stock.
Karat Packaging Stock Performance
NASDAQ KRT opened at $41.68 on Wednesday. The stock has a market capitalization of $831.93 million, a price-to-earnings ratio of 26.38, a PEG ratio of 1.77 and a beta of 0.85. The stock has a 50-day moving average of $32.03 and a 200 day moving average of $28.44. The company has a current ratio of 2.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. Karat Packaging Inc. has a twelve month low of $20.61 and a twelve month high of $42.09.
Karat Packaging (NASDAQ:KRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $116.95 million for the quarter, compared to analyst estimates of $112.98 million. Karat Packaging had a return on equity of 19.87% and a net margin of 6.61%. Sell-side analysts anticipate that Karat Packaging Inc. will post 1.78 EPS for the current fiscal year.
Karat Packaging Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. Karat Packaging's dividend payout ratio (DPR) is currently 113.92%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on KRT shares. Weiss Ratings restated a "hold (c+)" rating on shares of Karat Packaging in a research report on Thursday, June 11th. Lake Street Capital reaffirmed a "buy" rating and set a $39.00 target price on shares of Karat Packaging in a report on Friday, May 8th. Zacks Research cut shares of Karat Packaging from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 12th. William Blair raised shares of Karat Packaging from a "market perform" rating to an "outperform" rating in a report on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Karat Packaging from a "buy" rating to a "hold" rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $36.50.
Check Out Our Latest Analysis on Karat Packaging
Karat Packaging Profile
(
Free Report)
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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