LSV Asset Management Sells 20,342 Shares of Karat Packaging Inc. $KRT

LSV Asset Management lessened its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 37.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,600 shares of the company’s stock after selling 20,342 shares during the period. LSV Asset Management owned about 0.17% of Karat Packaging worth $872,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of Karat Packaging in the 3rd quarter valued at approximately $27,000. CWM LLC lifted its stake in Karat Packaging by 378.4% in the 3rd quarter. CWM LLC now owns 1,641 shares of the company’s stock valued at $41,000 after purchasing an additional 1,298 shares during the last quarter. Jane Street Group LLC bought a new position in Karat Packaging in the 1st quarter valued at approximately $219,000. Occudo Quantitative Strategies LP acquired a new stake in Karat Packaging in the second quarter valued at approximately $278,000. Finally, DAVENPORT & Co LLC grew its stake in shares of Karat Packaging by 20.7% during the third quarter. DAVENPORT & Co LLC now owns 11,100 shares of the company’s stock worth $280,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 25.20% of the company’s stock.

Karat Packaging Stock Up 0.3%

Shares of NASDAQ:KRT opened at $25.79 on Tuesday. The firm has a market cap of $518.38 million, a P/E ratio of 17.19, a P/E/G ratio of 1.49 and a beta of 1.09. The company has a quick ratio of 1.09, a current ratio of 2.14 and a debt-to-equity ratio of 0.14. Karat Packaging Inc. has a 12-month low of $20.61 and a 12-month high of $33.89. The business has a fifty day simple moving average of $24.08 and a 200 day simple moving average of $24.13.

Karat Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, February 20th. Karat Packaging’s dividend payout ratio (DPR) is 120.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KRT shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, January 22nd. Bank of America cut Karat Packaging from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $27.00 to $22.00 in a report on Monday, November 17th. Zacks Research upgraded Karat Packaging from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen cut Karat Packaging from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $26.50.

Karat Packaging 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.