Ieq Capital LLC Purchases New Position in Karat Packaging Inc. $KRT

Ieq Capital LLC acquired a new position in Karat Packaging Inc. (NASDAQ:KRT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,371 shares of the company’s stock, valued at approximately $380,000. Ieq Capital LLC owned about 0.06% of Karat Packaging as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KRT. Clearstead Advisors LLC increased its holdings in shares of Karat Packaging by 188.8% in 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 position in shares of Karat Packaging by 61.5% during the fourth 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 purchased a new stake in shares of Karat Packaging during the third quarter valued at $70,000. Deutsche Bank AG increased its holdings in Karat Packaging by 142.8% in the 4th quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock worth $87,000 after buying an additional 2,271 shares in the last quarter. Finally, State of Wyoming purchased a new position in Karat Packaging in the 4th quarter worth about $122,000. 25.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Karat Packaging from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. The Goldman Sachs Group lowered shares of Karat Packaging to a “neutral” rating in a research note on Thursday, June 4th. Bank of America increased their price target on Karat Packaging from $23.00 to $34.00 and gave the company an “underperform” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded Karat Packaging from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, William Blair upgraded Karat Packaging from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 4th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.50.

Karat Packaging Price Performance

NASDAQ KRT opened at $49.11 on Friday. The stock has a market cap of $978.76 million, a price-to-earnings ratio of 19.64, a PEG ratio of 1.44 and a beta of 0.82. Karat Packaging Inc. has a 12 month low of $20.61 and a 12 month high of $50.81. The company’s 50 day moving average is $40.26 and its two-hundred day moving average is $31.86. The company has a current ratio of 2.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.13.

Karat Packaging (NASDAQ:KRT) last released its earnings results on Thursday, August 6th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $1.01. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%.The firm had revenue of $136.30 million during the quarter, compared to analysts’ expectations of $135.46 million. As a group, research analysts anticipate that Karat Packaging Inc. will post 2.63 earnings per share for the current year.

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, August 21st. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.45. Karat Packaging’s dividend payout ratio is 75.20%.

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.