Stifel Financial Corp Acquires Shares of 14,421 Karat Packaging Inc. (NASDAQ:KRT)

Stifel Financial Corp acquired a new stake in shares of Karat Packaging Inc. (NASDAQ:KRT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,421 shares of the company's stock, valued at approximately $436,000. Stifel Financial Corp owned approximately 0.07% of Karat Packaging at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of KRT. Copeland Capital Management LLC boosted its position in shares of Karat Packaging by 38.4% during the 4th quarter. Copeland Capital Management LLC now owns 2,604 shares of the company's stock worth $79,000 after acquiring an additional 722 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Karat Packaging by 40.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company's stock valued at $157,000 after acquiring an additional 1,500 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Karat Packaging by 20.8% in the 4th quarter. Wells Fargo & Company MN now owns 5,538 shares of the company's stock valued at $168,000 after acquiring an additional 955 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Karat Packaging during the fourth quarter worth $291,000. Finally, State of Tennessee Department of Treasury acquired a new stake in Karat Packaging in the fourth quarter valued at $296,000. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

Karat Packaging Stock Up 2.5%

Shares of KRT traded up $0.75 on Friday, hitting $31.27. The company's stock had a trading volume of 96,942 shares, compared to its average volume of 40,139. The firm's fifty day moving average price is $26.86 and its 200-day moving average price is $29.08. 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 firm has a market capitalization of $627.28 million, a price-to-earnings ratio of 22.34 and a beta of 1.12. Karat Packaging Inc. has a fifty-two week low of $23.00 and a fifty-two week high of $33.89.

Karat Packaging (NASDAQ:KRT - Get Free Report) last issued its quarterly 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). The company had revenue of $101.65 million during the quarter, compared to the consensus estimate of $102.27 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.78%. On average, equities research analysts expect that Karat Packaging Inc. will post 1.66 EPS for the current year.

Karat Packaging Announces Dividend

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 given a dividend of $0.45 per share. The ex-dividend date is Friday, May 16th. This represents a $1.80 annualized dividend and a dividend yield of 5.76%. Karat Packaging's payout ratio is 120.00%.

Wall Street Analysts Forecast Growth

Separately, Truist Financial increased their target price on shares of 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 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.