Karat Packaging Inc. (NASDAQ:KRT) CEO Alan Yu Sells 112,500 Shares

Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) CEO Alan Yu sold 112,500 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $27.00, for a total value of $3,037,500.00. Following the sale, the chief executive officer directly owned 6,091,305 shares in the company, valued at approximately $164,465,235. The trade was a 1.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Alan Yu also recently made the following trade(s):

• On Thursday, June 12th, Alan Yu sold 750,000 shares of Karat Packaging stock. The shares were sold at an average price of $27.00, for a total value of $20,250,000.00.

Karat Packaging Stock Up 0.3%

Shares of KRT stock traded up $0.10 during trading on Friday, hitting $29.09. 76,584 shares of the company were exchanged, compared to its average volume of 48,806. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.53 and a current ratio of 2.86. The firm has a market capitalization of $584.11 million, a price-to-earnings ratio of 19.39 and a beta of 1.12. The business's 50-day simple moving average is $29.01 and its 200 day simple moving average is $28.86. Karat Packaging Inc. has a twelve month low of $23.00 and a twelve month high of $33.89.

Karat Packaging Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend was Friday, May 16th. Karat Packaging's dividend payout ratio is currently 120.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KRT. Truist Financial lifted their price target on Karat Packaging from $28.00 to $31.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Wall Street Zen raised Karat Packaging from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th.

Hedge Funds Weigh In On Karat Packaging

A number of hedge funds have recently modified their holdings of KRT. GAMMA Investing LLC raised its holdings in shares of Karat Packaging by 4,151.4% during the 1st quarter. GAMMA Investing LLC now owns 1,488 shares of the company's stock valued at $40,000 after purchasing an additional 1,453 shares in the last quarter. Deutsche Bank AG raised its holdings in Karat Packaging by 773.6% during the fourth quarter. Deutsche Bank AG now owns 1,590 shares of the company's stock valued at $48,000 after buying an additional 1,408 shares in the last quarter. Comerica Bank lifted 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 buying an additional 2,730 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of 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 acquiring an additional 955 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Karat Packaging during the 4th quarter worth about $231,000. 25.20% of the stock is owned by institutional investors and hedge funds.

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.