Lazard Asset Management LLC Has $1.08 Million Stake in Karat Packaging Inc. (NASDAQ:KRT)

Lazard Asset Management LLC raised its stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 32.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,847 shares of the company's stock after purchasing an additional 8,837 shares during the period. Lazard Asset Management LLC owned 0.18% of Karat Packaging worth $1,084,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Russell Investments Group Ltd. raised its position in shares of Karat Packaging by 28.0% in the 4th quarter. Russell Investments Group Ltd. now owns 79,645 shares of the company's stock worth $2,410,000 after acquiring an additional 17,419 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Karat Packaging by 91.1% in the 4th quarter. Citadel Advisors LLC now owns 34,344 shares of the company's stock worth $1,039,000 after acquiring an additional 16,371 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Karat Packaging in the 4th quarter worth about $436,000. Dimensional Fund Advisors LP raised its position in shares of Karat Packaging by 9.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 145,946 shares of the company's stock worth $4,416,000 after acquiring an additional 12,676 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of Karat Packaging in the 4th quarter valued at about $352,000. 25.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Truist Financial boosted their target price on Karat Packaging from $28.00 to $31.00 and gave the company a "hold" rating in a research report on Monday, May 12th.

Karat Packaging Stock Up 1.8%

Karat Packaging stock traded up $0.56 during midday trading on Thursday, reaching $31.39. The stock had a trading volume of 60,156 shares, compared to its average volume of 40,350. Karat Packaging Inc. has a 12 month low of $23.00 and a 12 month high of $33.89. The company has a market capitalization of $629.68 million, a P/E ratio of 22.42 and a beta of 1.12. The company has a fifty day moving average price of $26.99 and a two-hundred day moving average price of $29.14. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). The company had revenue of $101.65 million for the quarter, compared to analyst estimates of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. As a group, equities analysts expect that Karat Packaging Inc. will post 1.66 EPS for the current fiscal year.

Karat Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.80 dividend on an annualized basis and a yield of 5.73%. Karat Packaging's dividend payout ratio (DPR) is currently 120.00%.

Karat Packaging Profile

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.