Kings Path Partners LLC Buys 8,826 Shares of Karat Packaging Inc. $KRT

Kings Path Partners LLC raised its stake in Karat Packaging Inc. (NASDAQ:KRT) by 91.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,453 shares of the company’s stock after acquiring an additional 8,826 shares during the quarter. Kings Path Partners LLC’s holdings in Karat Packaging were worth $520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Karat Packaging by 4,151.4% in the first quarter. GAMMA Investing LLC now owns 1,488 shares of the company’s stock valued at $40,000 after purchasing an additional 1,453 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Karat Packaging by 8.5% in the first quarter. Janney Montgomery Scott LLC now owns 37,599 shares of the company’s stock valued at $999,000 after purchasing an additional 2,933 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Karat Packaging by 91.1% during the fourth quarter. Citadel Advisors LLC now owns 34,344 shares of the company’s stock worth $1,039,000 after acquiring an additional 16,371 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Karat Packaging by 23.0% during 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 in the last quarter. Finally, Northern Trust Corp increased its position in shares of Karat Packaging by 5.2% during the fourth quarter. Northern Trust Corp now owns 56,330 shares of the company’s stock worth $1,705,000 after acquiring an additional 2,762 shares in the last quarter. 25.20% of the stock is owned by institutional investors.

Insider Transactions at Karat Packaging

In other Karat Packaging news, CEO Alan Yu sold 112,500 shares of the company’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $27.00, for a total value of $3,037,500.00. Following the completion of the sale, the chief executive officer directly owned 6,091,305 shares of the company’s stock, valued at approximately $164,465,235. This represents a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 66.20% of the company’s stock.

Karat Packaging Trading Down 3.3%

Shares of KRT stock opened at $23.95 on Friday. Karat Packaging Inc. has a 52-week low of $23.00 and a 52-week high of $33.89. 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 company has a 50-day simple moving average of $26.56 and a two-hundred day simple moving average of $27.53. The company has a market capitalization of $481.16 million, a price-to-earnings ratio of 15.06, a PEG ratio of 1.32 and a beta of 1.11.

Karat Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 20th were given a $0.45 dividend. 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 dividend payout ratio is presently 113.21%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KRT shares. Wall Street Zen downgraded shares of Karat Packaging from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Bank of America started coverage on shares of Karat Packaging in a research report on Wednesday, August 13th. They set a “neutral” rating and a $28.00 target price for the company. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.67.

Karat Packaging 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.