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 stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $27.00, for a total transaction of $3,037,500.00. Following the completion of the transaction, the chief executive officer directly owned 6,091,305 shares in the company, valued at approximately $164,465,235. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Karat Packaging Price Performance

KRT traded up $0.22 on Wednesday, hitting $28.97. 44,343 shares of the stock were exchanged, compared to its average volume of 48,344. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.86 and a quick ratio of 1.53. Karat Packaging Inc. has a 12 month low of $23.00 and a 12 month high of $33.89. The firm has a market capitalization of $581.72 million, a price-to-earnings ratio of 19.31 and a beta of 1.12. The business has a 50-day moving average of $28.80 and a two-hundred day moving average of $28.90.

Karat Packaging Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.80 dividend on an annualized basis and a yield of 6.21%. Karat Packaging's dividend payout ratio (DPR) is 120.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KRT. GAMMA Investing LLC increased its stake in shares of Karat Packaging by 4,151.4% in 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 during the last quarter. Deutsche Bank AG grew its position in Karat Packaging by 773.6% in the fourth quarter. Deutsche Bank AG now owns 1,590 shares of the company's stock valued at $48,000 after acquiring an additional 1,408 shares during the last quarter. Comerica Bank raised its stake in Karat Packaging by 107.8% during the fourth quarter. Comerica Bank now owns 5,262 shares of the company's stock worth $159,000 after acquiring an additional 2,730 shares in the last quarter. 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 acquiring an additional 955 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Karat Packaging in the fourth quarter worth about $231,000. 25.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KRT shares. Truist Financial raised their price target 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. Wall Street Zen upgraded Karat Packaging from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 14th.

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.