Karat Packaging Inc. $KRT Holdings Lifted by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 148.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,000 shares of the company’s stock after purchasing an additional 14,920 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Karat Packaging were worth $704,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of KRT. Independent Advisor Alliance grew its holdings in shares of Karat Packaging by 2.8% during the first quarter. Independent Advisor Alliance now owns 38,654 shares of the company’s stock valued at $1,027,000 after buying an additional 1,059 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Karat Packaging by 11.8% during the first quarter. Russell Investments Group Ltd. now owns 89,028 shares of the company’s stock valued at $2,366,000 after buying an additional 9,383 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Karat Packaging by 13.2% during the first quarter. American Century Companies Inc. now owns 212,340 shares of the company’s stock valued at $5,644,000 after buying an additional 24,791 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of 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 acquiring an additional 1,823 shares during the last quarter. Finally, Martingale Asset Management L P increased its stake in shares of Karat Packaging by 13.4% in the first quarter. Martingale Asset Management L P now owns 12,713 shares of the company’s stock worth $338,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.

Karat Packaging Trading Up 0.6%

Karat Packaging stock opened at $24.02 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 1.40. The company has a market capitalization of $482.56 million, a price-to-earnings ratio of 15.11, a PEG ratio of 1.27 and a beta of 1.09. Karat Packaging Inc. has a one year low of $22.96 and a one year high of $33.89. The company’s fifty day moving average price is $24.60 and its two-hundred day moving average price is $26.81.

Karat Packaging Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Karat Packaging from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Bank of America raised shares of Karat Packaging from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Thursday, October 9th. Wall Street Zen downgraded shares of Karat Packaging from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Zacks Research raised shares of Karat Packaging from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Karat Packaging currently has a consensus rating of “Hold” and an average target price of $32.67.

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.