Karat Packaging (NASDAQ:KRT) Stock Rating Lowered by Wall Street Zen

Karat Packaging (NASDAQ:KRT - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Separately, Truist Financial boosted their price target on 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 Stock Down 1.7%

NASDAQ KRT traded down $0.51 on Friday, reaching $28.65. The stock had a trading volume of 62,839 shares, compared to its average volume of 49,584. The company has a current ratio of 2.86, a quick ratio of 1.53 and a debt-to-equity ratio of 0.29. Karat Packaging has a 1 year low of $23.00 and a 1 year high of $33.89. The business has a 50 day moving average price of $29.27 and a 200 day moving average price of $28.82. The company has a market capitalization of $575.29 million, a price-to-earnings ratio of 19.10 and a beta of 1.12.

Insider Transactions at Karat Packaging

In other Karat Packaging news, CEO Alan Yu sold 112,500 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $27.00, for a total transaction of $3,037,500.00. Following the transaction, the chief executive officer directly owned 6,091,305 shares in the company, valued at $164,465,235. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 66.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its position in Karat Packaging by 9.0% during the first quarter. Acadian Asset Management LLC now owns 245,734 shares of the company's stock worth $6,529,000 after purchasing an additional 20,262 shares during the period. American Century Companies Inc. lifted its stake in shares of Karat Packaging by 13.2% in the first quarter. American Century Companies Inc. now owns 212,340 shares of the company's stock worth $5,644,000 after buying an additional 24,791 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Karat Packaging by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 182,271 shares of the company's stock worth $5,517,000 after buying an additional 3,626 shares during the period. Dimensional Fund Advisors LP grew its stake in Karat Packaging by 9.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 145,946 shares of the company's stock valued at $4,416,000 after buying an additional 12,676 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Karat Packaging by 11.8% in the 1st quarter. Russell Investments Group Ltd. now owns 89,028 shares of the company's stock valued at $2,366,000 after buying an additional 9,383 shares during the last quarter. Institutional investors and hedge funds own 25.20% of the company's stock.

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.