De Lisle Partners LLP Takes Position in Karat Packaging Inc. $KRT

De Lisle Partners LLP bought a new position in Karat Packaging Inc. (NASDAQ:KRTFree Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 218,443 shares of the company’s stock, valued at approximately $7,307,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its stake 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 acquiring an additional 4,684 shares during the last quarter. Jane Street Group LLC purchased a new stake in Karat Packaging during the first quarter valued at $219,000. JPMorgan Chase & Co. grew its stake in shares of Karat Packaging by 921.6% in the 2nd 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 increased its holdings in shares of Karat Packaging by 41.1% in the 2nd quarter. Hsbc Holdings PLC now owns 13,731 shares of the company’s stock worth $379,000 after buying an additional 3,999 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Karat Packaging by 3.9% during the 2nd 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 in the last quarter. 25.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KRT. Wall Street Zen raised Karat Packaging from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. The Goldman Sachs Group downgraded Karat Packaging to a “neutral” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded Karat Packaging from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Lake Street Capital restated a “buy” rating and issued a $39.00 price target on shares of Karat Packaging in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Karat Packaging currently has an average rating of “Hold” and a consensus target price of $36.50.

Read Our Latest Research Report on Karat Packaging

Karat Packaging Stock Performance

Karat Packaging stock opened at $48.05 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.25 and a quick ratio of 1.25. The firm has a market capitalization of $957.64 million, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 1.41 and a beta of 0.82. Karat Packaging Inc. has a 1-year low of $20.61 and a 1-year high of $50.81. The company’s 50-day moving average is $38.33 and its 200 day moving average is $31.03.

Karat Packaging (NASDAQ:KRTGet Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $1.01. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%.The business had revenue of $136.30 million during the quarter, compared to analyst estimates of $135.46 million. Research analysts forecast that Karat Packaging Inc. will post 2.63 EPS for the current year.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.47 per share. This is an increase from Karat Packaging’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 21st. Karat Packaging’s payout ratio is presently 72.00%.

About Karat Packaging

(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

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Institutional Ownership by Quarter for Karat Packaging (NASDAQ:KRT)

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