LSV Asset Management Sells 31,400 Shares of Karat Packaging Inc. (NASDAQ:KRT)

LSV Asset Management cut its stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) by 23.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,520 shares of the company's stock after selling 31,400 shares during the quarter. LSV Asset Management owned about 0.52% of Karat Packaging worth $3,163,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KRT. American Century Companies Inc. raised its stake in shares of Karat Packaging by 3.4% in the fourth quarter. American Century Companies Inc. now owns 187,549 shares of the company's stock worth $5,675,000 after purchasing an additional 6,224 shares during the last quarter. Geode Capital Management LLC raised its position in Karat Packaging by 2.0% in 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 last quarter. Russell Investments Group Ltd. lifted its stake in Karat Packaging by 28.0% during the 4th quarter. Russell Investments Group Ltd. now owns 79,645 shares of the company's stock valued at $2,410,000 after acquiring an additional 17,419 shares during the period. Barclays PLC boosted its holdings in shares of Karat Packaging by 12.5% during the 3rd quarter. Barclays PLC now owns 71,153 shares of the company's stock valued at $1,843,000 after acquiring an additional 7,911 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Karat Packaging by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 40,815 shares of the company's stock worth $1,235,000 after acquiring an additional 2,700 shares during the period. Hedge funds and other institutional investors own 25.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, William Blair downgraded shares of Karat Packaging from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

Karat Packaging Stock Performance

KRT stock traded down $0.07 during trading on Friday, reaching $24.39. The stock had a trading volume of 65,178 shares, compared to its average volume of 38,320. The firm has a market cap of $488.70 million, a PE ratio of 17.42 and a beta of 1.12. 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's 50 day moving average is $28.10 and its two-hundred day moving average is $28.92. Karat Packaging Inc. has a 52 week low of $23.00 and a 52 week high of $33.89.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its quarterly earnings results 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 for 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%. As a group, equities analysts anticipate that Karat Packaging Inc. will post 1.66 earnings per share for the current year.

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Monday, February 24th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.38%. This is a positive change from Karat Packaging's previous quarterly dividend of $0.40. The ex-dividend date was Monday, February 24th. Karat Packaging's dividend payout ratio is 120.81%.

Karat Packaging 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.