Karat Packaging (NASDAQ:KRT) Sees Strong Trading Volume - Should You Buy?

Karat Packaging Inc. (NASDAQ:KRT - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 39,406 shares were traded during trading, a decline of 3% from the previous session's volume of 40,438 shares.The stock last traded at $31.62 and had previously closed at $32.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen raised Karat Packaging from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Truist Financial boosted their price objective 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 Trading Up 0.5%

The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $27.40 and a 200-day simple moving average of $29.26. The firm has a market cap of $636.50 million, a P/E ratio of 22.66 and a beta of 1.12.

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

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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend was Friday, May 16th. Karat Packaging's payout ratio is 120.00%.

Institutional Trading of Karat Packaging

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Karat Packaging by 4,151.4% during the first quarter. GAMMA Investing LLC now owns 1,488 shares of the company's stock valued at $40,000 after acquiring an additional 1,453 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Karat Packaging by 773.6% during the fourth quarter. Deutsche Bank AG now owns 1,590 shares of the company's stock worth $48,000 after buying an additional 1,408 shares during the period. Copeland Capital Management LLC boosted its holdings in Karat Packaging by 38.4% in the fourth quarter. Copeland Capital Management LLC now owns 2,604 shares of the company's stock valued at $79,000 after purchasing an additional 722 shares during the period. Comerica Bank boosted its holdings in Karat Packaging by 107.8% in the fourth quarter. Comerica Bank now owns 5,262 shares of the company's stock valued at $159,000 after purchasing an additional 2,730 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Karat Packaging by 20.8% in the fourth quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock valued at $168,000 after purchasing an additional 955 shares during the period. Hedge funds and other institutional investors own 25.20% of the company's stock.

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.