State of Tennessee Department of Treasury Acquires Shares of 9,789 Karat Packaging Inc. (NASDAQ:KRT)

State of Tennessee Department of Treasury purchased a new position in Karat Packaging Inc. (NASDAQ:KRT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,789 shares of the company's stock, valued at approximately $296,000.

A number of other large investors also recently modified their holdings of KRT. Barclays PLC raised its holdings in Karat Packaging by 12.5% during the third quarter. Barclays PLC now owns 71,153 shares of the company's stock worth $1,843,000 after purchasing an additional 7,911 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Karat Packaging by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 178,645 shares of the company's stock worth $4,626,000 after buying an additional 24,020 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Karat Packaging by 21.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 34,666 shares of the company's stock valued at $1,049,000 after buying an additional 6,178 shares during the period. Exchange Traded Concepts LLC bought a new position in Karat Packaging during the fourth quarter valued at about $291,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Karat Packaging by 40.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company's stock valued at $157,000 after buying an additional 1,500 shares in the last quarter. 25.20% of the stock is owned by institutional investors and hedge funds.

Karat Packaging Price Performance

Karat Packaging stock traded up $0.48 during midday trading on Thursday, hitting $27.34. The company's stock had a trading volume of 35,184 shares, compared to its average volume of 39,388. Karat Packaging Inc. has a 12 month low of $23.00 and a 12 month high of $33.89. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $547.81 million, a PE ratio of 19.53 and a beta of 1.12. The stock's 50-day moving average price is $26.78 and its 200-day moving average price is $28.89.

Karat Packaging (NASDAQ:KRT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. Analysts anticipate that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date is Friday, May 16th. Karat Packaging's 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.