199,896 Shares in Karat Packaging Inc. $KRT Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new position in shares of Karat Packaging Inc. (NASDAQ:KRT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 199,896 shares of the company’s stock, valued at approximately $5,039,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hood River Capital Management LLC acquired a new position in shares of Karat Packaging during the second quarter worth about $774,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Karat Packaging by 130.2% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 57,552 shares of the company’s stock valued at $1,447,000 after acquiring an additional 32,552 shares in the last quarter. HBK Investments L P purchased a new position in Karat Packaging in the second quarter worth approximately $1,971,000. De Lisle Partners LLP lifted its stake in Karat Packaging by 53.6% in the second quarter. De Lisle Partners LLP now owns 229,143 shares of the company’s stock worth $6,444,000 after acquiring an additional 80,000 shares during the last quarter. Finally, Ranger Investment Management L.P. grew its holdings in Karat Packaging by 105.7% during the 2nd quarter. Ranger Investment Management L.P. now owns 320,556 shares of the company’s stock worth $9,027,000 after acquiring an additional 164,716 shares in the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

Karat Packaging Stock Performance

Shares of Karat Packaging stock opened at $27.75 on Thursday. The company has a quick ratio of 1.09, a current ratio of 2.30 and a debt-to-equity ratio of 0.15. Karat Packaging Inc. has a 52 week low of $20.61 and a 52 week high of $32.68. The firm’s 50 day moving average is $24.92 and its two-hundred day moving average is $23.99. The firm has a market capitalization of $553.89 million, a P/E ratio of 17.79, a P/E/G ratio of 1.34 and a beta of 1.09.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.06. The business had revenue of $115.62 million during the quarter, compared to the consensus estimate of $113.95 million. Karat Packaging had a net margin of 6.73% and a return on equity of 19.63%. Research analysts forecast that Karat Packaging Inc. will post 1.66 EPS for the current fiscal year.

Karat Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.5%. The ex-dividend date was Friday, February 20th. Karat Packaging’s dividend payout ratio is currently 115.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KRT. Weiss Ratings reissued a “hold (c+)” rating on shares of Karat Packaging in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Karat Packaging from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Zacks Research raised Karat Packaging from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Bank of America set a $24.00 price target on Karat Packaging and gave the company an “underperform” rating in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Karat Packaging currently has a consensus rating of “Reduce” and a consensus price target of $27.50.

Karat Packaging Company Profile

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.