Karat Packaging Inc. (KRT) To Go Ex-Dividend on November 19th

Karat Packaging Inc. (NASDAQ:KRT) declared a quarterly dividend on Wednesday, November 4th. Stockholders of record on Thursday, November 19th will be given a dividend of $0.47 per share on Friday, November 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Thursday, November 19th.

Karat Packaging has a dividend payout ratio of 102.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Karat Packaging to earn $2.25 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 83.6%.

Karat Packaging Trading Down 4.1%

KRT opened at $51.44 on Friday. The company’s 50 day moving average is $51.85 and its 200-day moving average is $36.26. Karat Packaging has a 1-year low of $20.61 and a 1-year high of $56.06. The company has a current ratio of 2.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.03 billion, a P/E ratio of 20.58, a PEG ratio of 1.48 and a beta of 0.79.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.17). The company had revenue of $134.74 million for the quarter, compared to analyst estimates of $140.33 million. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%. Equities research analysts predict that Karat Packaging will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Karat Packaging

A number of hedge funds have recently modified their holdings of KRT. CWA Asset Management Group LLC boosted its holdings in Karat Packaging by 35.9% in the third quarter. CWA Asset Management Group LLC now owns 185,066 shares of the company’s stock valued at $9,725,000 after acquiring an additional 48,906 shares during the last quarter. PDT Partners LLC acquired a new stake in Karat Packaging during the 2nd quarter valued at approximately $1,106,000. BlackRock Inc. bought a new position in Karat Packaging during the 2nd quarter worth approximately $19,840,000. Inspire Investing LLC raised its holdings in Karat Packaging by 199.6% during the 3rd quarter. Inspire Investing LLC now owns 61,286 shares of the company’s stock worth $3,221,000 after purchasing an additional 40,830 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Karat Packaging during the 2nd quarter worth approximately $5,337,000. Institutional investors and hedge funds own 25.20% of the company’s stock.

About Karat Packaging

Karat Packaging Inc is a foodservice packaging company that manufactures and distributes disposable products for restaurants, cafés, convenience stores, supermarkets, institutional foodservice providers and other businesses. The company is headquartered in Chino, California, and serves customers primarily across North America through its distribution and manufacturing operations.

Its product portfolio includes paper and plastic cups, food containers, lids, cutlery, straws, gloves, napkins, bags and other supplies used for food preparation, packaging and takeout service.