Polar Asset Management Partners Inc. Has $3.16 Million Stock Position in Karat Packaging Inc. $KRT

Polar Asset Management Partners Inc. lessened its stake in shares of Karat Packaging Inc. (NASDAQ:KRT) by 63.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,299 shares of the company’s stock after selling 200,801 shares during the period. Polar Asset Management Partners Inc.’s holdings in Karat Packaging were worth $3,163,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Clearstead Advisors LLC raised its stake in shares of Karat Packaging by 188.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock worth $34,000 after purchasing an additional 976 shares in the last quarter. CWM LLC boosted its holdings in shares of Karat Packaging by 61.5% in the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after buying an additional 1,010 shares during the last quarter. Quarry LP bought a new position in shares of Karat Packaging in the third quarter valued at $70,000. Deutsche Bank AG grew its stake in shares of Karat Packaging by 142.8% in the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after buying an additional 2,271 shares in the last quarter. Finally, State of Wyoming acquired a new position in Karat Packaging during the fourth quarter worth $122,000. 25.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KRT has been the topic of several analyst reports. The Goldman Sachs Group lowered shares of Karat Packaging to a “neutral” rating in a research report on Thursday, June 4th. Wall Street Zen downgraded shares of Karat Packaging from a “buy” rating to a “hold” rating in a research report on Saturday. William Blair upgraded shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 4th. Lake Street Capital reaffirmed a “buy” rating and issued a $39.00 target price on shares of Karat Packaging in a report on Friday, May 8th. Finally, Bank of America raised their target price on shares of Karat Packaging from $23.00 to $34.00 and gave the company an “underperform” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.50.

Karat Packaging Stock Up 3.6%

KRT stock opened at $40.95 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $817.36 million, a PE ratio of 25.92, a PEG ratio of 1.71 and a beta of 0.85. Karat Packaging Inc. has a 1-year low of $20.61 and a 1-year high of $41.38. The business’s 50 day simple moving average is $31.73 and its 200 day simple moving average is $28.31.

Karat Packaging (NASDAQ:KRT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Karat Packaging had a return on equity of 19.87% and a net margin of 6.61%.The business had revenue of $116.95 million for the quarter, compared to analysts’ expectations of $112.98 million. As a group, research analysts anticipate that Karat Packaging Inc. will post 1.78 EPS for the current year.

Karat Packaging Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. Karat Packaging’s dividend payout ratio is presently 113.92%.

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.