Karat Packaging Inc. (NASDAQ:KRT) Plans Dividend Increase – $0.47 Per Share

Karat Packaging Inc. (NASDAQ:KRTGet Free Report) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 21st will be paid a dividend of 0.47 per share on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, August 21st. This is a 4.4% increase from Karat Packaging’s previous quarterly dividend of $0.45.

Karat Packaging has a payout ratio of 97.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Karat Packaging to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 75.3%.

Karat Packaging Stock Performance

KRT stock opened at $42.34 on Thursday. Karat Packaging has a one year low of $20.61 and a one year high of $43.00. The firm has a market cap of $845.11 million, a price-to-earnings ratio of 26.80, a PEG ratio of 1.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 2.29. The firm has a 50-day simple moving average of $33.71 and a two-hundred day simple moving average of $29.13.

Karat Packaging (NASDAQ:KRTGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $116.95 million for the quarter, compared to the consensus estimate of $112.98 million. Karat Packaging had a net margin of 6.61% and a return on equity of 19.87%. On average, equities analysts forecast that Karat Packaging will post 1.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Karat Packaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRT. Goldman Sachs Group Inc. boosted its position in Karat Packaging by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,565 shares of the company’s stock worth $759,000 after purchasing an additional 4,684 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Karat Packaging in the 1st quarter valued at $219,000. JPMorgan Chase & Co. boosted its holdings in Karat Packaging by 921.6% during the second quarter. JPMorgan Chase & Co. now owns 34,203 shares of the company’s stock worth $963,000 after buying an additional 30,855 shares in the last quarter. Hsbc Holdings PLC grew its position in Karat Packaging by 41.1% during the second quarter. Hsbc Holdings PLC now owns 13,731 shares of the company’s stock valued at $379,000 after buying an additional 3,999 shares during the period. Finally, First Trust Advisors LP grew its position in Karat Packaging by 3.9% during the second quarter. First Trust Advisors LP now owns 22,061 shares of the company’s stock valued at $621,000 after buying an additional 830 shares during the period. 25.20% of the stock is owned by institutional investors and hedge funds.

Karat Packaging Company Profile

(Get Free Report)

Karat Packaging Technologies, Inc (NASDAQ: KRT) is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.

Further Reading

Dividend History for Karat Packaging (NASDAQ:KRT)

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