Wellington Management Group LLP Lowers Stock Position in Karat Packaging Inc. (NASDAQ:KRT)

Wellington Management Group LLP lessened its stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346,160 shares of the company's stock after selling 78,700 shares during the period. Wellington Management Group LLP owned approximately 1.73% of Karat Packaging worth $10,475,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Deutsche Bank AG grew its position in Karat Packaging by 773.6% during the 4th quarter. Deutsche Bank AG now owns 1,590 shares of the company's stock worth $48,000 after purchasing an additional 1,408 shares during the last quarter. Copeland Capital Management LLC grew its position in Karat Packaging by 38.4% during the 4th 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 last quarter. Comerica Bank grew its position in Karat Packaging by 107.8% during the 4th 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 last quarter. Wells Fargo & Company MN grew its position in Karat Packaging by 20.8% during the 4th quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock worth $168,000 after purchasing an additional 955 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Karat Packaging during the 4th quarter worth approximately $231,000. Hedge funds and other institutional investors own 25.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KRT. Wall Street Zen raised shares of Karat Packaging from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Truist Financial boosted their target price on shares of Karat Packaging from $28.00 to $31.00 and gave the stock a "hold" rating in a research report on Monday, May 12th.

Karat Packaging Stock Performance

Shares of KRT stock traded up $0.32 during trading hours on Friday, hitting $31.22. The company's stock had a trading volume of 58,509 shares, compared to its average volume of 40,943. The company has a 50 day moving average of $27.80 and a 200 day moving average of $29.31. The stock has a market cap of $626.27 million, a PE ratio of 22.30 and a beta of 1.19. 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 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 released its quarterly earnings data on Thursday, March 13th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $101.65 million during the quarter, compared to analysts' expectations of $102.27 million. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. On average, sell-side analysts forecast that Karat Packaging Inc. will post 1.66 EPS for the current fiscal year.

Karat Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.77%. The ex-dividend date of this dividend was Friday, May 16th. Karat Packaging's dividend payout ratio (DPR) is currently 120.00%.

Karat Packaging Company 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.