Tower Research Capital LLC TRC Increases Holdings in Karat Packaging Inc. (NASDAQ:KRT)

Tower Research Capital LLC TRC lifted its stake in Karat Packaging Inc. (NASDAQ:KRT) by 103.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,723 shares of the company’s stock after purchasing an additional 875 shares during the period. Tower Research Capital LLC TRC’s holdings in Karat Packaging were worth $43,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ellsworth Advisors LLC boosted its holdings in shares of Karat Packaging by 3.1% during the 4th quarter. Ellsworth Advisors LLC now owns 17,901 shares of the company’s stock valued at $445,000 after purchasing an additional 531 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Karat Packaging in the 4th quarter valued at about $29,000. Copeland Capital Management LLC bought a new position in shares of Karat Packaging in the 4th quarter valued at about $31,000. Financial Management Professionals Inc. bought a new position in shares of Karat Packaging in the 4th quarter valued at about $39,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Karat Packaging in the 3rd quarter valued at about $67,000. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Karat Packaging from $24.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Karat Packaging in a research report on Friday, March 15th.

Karat Packaging Stock Up 1.9 %

KRT stock traded up $0.52 during trading on Thursday, hitting $27.83. 20,023 shares of the company’s stock traded hands, compared to its average volume of 46,897. The firm has a market capitalization of $555.77 million, a P/E ratio of 17.18 and a beta of 1.06. The business has a fifty day simple moving average of $28.11 and a two-hundred day simple moving average of $24.90. The company has a quick ratio of 1.88, a current ratio of 3.49 and a debt-to-equity ratio of 0.30. Karat Packaging Inc. has a 1 year low of $13.43 and a 1 year high of $30.94.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, March 14th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.16). The business had revenue of $95.58 million for the quarter, compared to analysts’ expectations of $95.51 million. Karat Packaging had a net margin of 8.00% and a return on equity of 22.54%. Sell-side analysts anticipate that Karat Packaging Inc. will post 1.92 EPS for the current year.

Karat Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.31%. Karat Packaging’s dividend payout ratio is presently 74.07%.

About Karat Packaging

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.