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

LSV Asset Management cut its position in shares of Karat Packaging Inc. (NASDAQ:KRT) by 37.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,600 shares of the company’s stock after selling 20,342 shares during the quarter. LSV Asset Management’s holdings in Karat Packaging were worth $872,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wasatch Advisors LP boosted its position in Karat Packaging by 3.3% during the second quarter. Wasatch Advisors LP now owns 330,961 shares of the company’s stock valued at $9,320,000 after acquiring an additional 10,617 shares during the last quarter. Ranger Investment Management L.P. lifted its stake in shares of Karat Packaging by 0.6% in the 3rd quarter. Ranger Investment Management L.P. now owns 322,536 shares of the company’s stock valued at $8,131,000 after purchasing an additional 1,980 shares during the period. Acadian Asset Management LLC boosted its position in shares of Karat Packaging by 13.7% during the 2nd quarter. Acadian Asset Management LLC now owns 279,361 shares of the company’s stock valued at $7,863,000 after purchasing an additional 33,627 shares in the last quarter. De Lisle Partners LLP boosted its position in shares of Karat Packaging by 53.6% during the 2nd quarter. De Lisle Partners LLP now owns 229,143 shares of the company’s stock valued at $6,444,000 after purchasing an additional 80,000 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Karat Packaging by 7.9% during the second quarter. American Century Companies Inc. now owns 229,038 shares of the company’s stock worth $6,450,000 after purchasing an additional 16,698 shares during the period. Institutional investors and hedge funds own 25.20% of the company’s stock.

Analysts Set New Price Targets

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

Karat Packaging Stock Up 0.3%

Karat Packaging stock opened at $25.79 on Tuesday. The firm has a market capitalization of $518.38 million, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.49 and a beta of 1.09. The firm’s fifty day moving average price is $24.08 and its two-hundred day moving average price is $24.13. Karat Packaging Inc. has a 1-year low of $20.61 and a 1-year high of $33.89. The company has a current ratio of 2.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Karat Packaging Announces Dividend

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

About Karat Packaging

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.