Karat Packaging Inc. $KRT Shares Acquired by Copeland Capital Management LLC

Copeland Capital Management LLC lifted its stake in shares of Karat Packaging Inc. (NASDAQ:KRT) by 58.3% in the second quarter, Holdings Channel reports. The institutional investor owned 2,083 shares of the company’s stock after buying an additional 767 shares during the quarter. Copeland Capital Management LLC’s holdings in Karat Packaging were worth $59,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Karat Packaging by 4,151.4% during the first quarter. GAMMA Investing LLC now owns 1,488 shares of the company’s stock worth $40,000 after buying an additional 1,453 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Karat Packaging by 9.0% in the first quarter. Acadian Asset Management LLC now owns 245,734 shares of the company’s stock worth $6,529,000 after purchasing an additional 20,262 shares during the period. Rhumbline Advisers boosted its holdings in Karat Packaging by 10.3% in the first quarter. Rhumbline Advisers now owns 11,668 shares of the company’s stock worth $310,000 after purchasing an additional 1,088 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Karat Packaging by 8.5% in the first quarter. Janney Montgomery Scott LLC now owns 37,599 shares of the company’s stock worth $999,000 after purchasing an additional 2,933 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in Karat Packaging by 23.0% in the first quarter. Hsbc Holdings PLC now owns 9,732 shares of the company’s stock worth $263,000 after purchasing an additional 1,823 shares during the period. Institutional investors and hedge funds own 25.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on KRT shares. Bank of America started coverage on shares of Karat Packaging in a report on Wednesday, August 13th. They issued a “neutral” rating and a $28.00 price objective for the company. Wall Street Zen downgraded shares of Karat Packaging from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karat Packaging in a report on Saturday, September 27th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.67.

Karat Packaging Stock Performance

KRT stock opened at $23.87 on Friday. Karat Packaging Inc. has a 1 year low of $23.00 and a 1 year high of $33.89. The stock’s fifty day moving average is $25.33 and its two-hundred day moving average is $27.04. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.40 and a current ratio of 2.68. The stock has a market capitalization of $479.55 million, a price-to-earnings ratio of 15.01, a PEG ratio of 1.27 and a beta of 1.09.

Karat Packaging Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 20th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend was Wednesday, August 20th. Karat Packaging’s payout ratio is presently 113.21%.

Karat Packaging Company Profile

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.