Citadel Advisors LLC Acquires 16,371 Shares of Karat Packaging Inc. (NASDAQ:KRT)

Citadel Advisors LLC boosted its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 91.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,344 shares of the company's stock after buying an additional 16,371 shares during the quarter. Citadel Advisors LLC owned approximately 0.17% of Karat Packaging worth $1,039,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Copeland Capital Management LLC boosted its position in shares of Karat Packaging by 38.4% in the fourth quarter. Copeland Capital Management LLC now owns 2,604 shares of the company's stock worth $79,000 after purchasing an additional 722 shares during the period. Comerica Bank boosted its position in shares of Karat Packaging by 107.8% in the fourth quarter. Comerica Bank now owns 5,262 shares of the company's stock worth $159,000 after purchasing an additional 2,730 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Karat Packaging by 20.8% in the fourth quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock worth $168,000 after buying an additional 955 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Karat Packaging in the fourth quarter worth $231,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Karat Packaging in the fourth quarter worth $240,000. 25.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KRT has been the topic of several research analyst reports. Wall Street Zen raised shares of Karat Packaging from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Truist Financial upped their price target on shares of Karat Packaging from $28.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, May 12th.

Karat Packaging Price Performance

Karat Packaging stock traded down $0.17 during mid-day trading on Thursday, reaching $31.56. 18,701 shares of the company's stock traded hands, compared to its average volume of 40,583. The company has a market cap of $633.09 million, a price-to-earnings ratio of 22.54 and a beta of 1.12. The stock has a 50 day moving average of $27.27 and a two-hundred day moving average of $29.24. 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 Inc. has a 12-month low of $23.00 and a 12-month high of $33.89.

Karat Packaging (NASDAQ:KRT - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. The firm had revenue of $101.65 million during the quarter, compared to analysts' expectations of $102.27 million. Equities analysts forecast that Karat Packaging Inc. will post 1.66 earnings per share for the current year.

Karat Packaging Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend was Friday, May 16th. Karat Packaging's dividend payout ratio is currently 120.00%.

About Karat Packaging

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.