Hood River Capital Management LLC Invests $774,000 in Karat Packaging Inc. $KRT

Hood River Capital Management LLC acquired a new position in Karat Packaging Inc. (NASDAQ:KRT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 27,500 shares of the company’s stock, valued at approximately $774,000. Hood River Capital Management LLC owned 0.14% of Karat Packaging as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Copeland Capital Management LLC grew its position in Karat Packaging by 58.3% in the 2nd quarter. Copeland Capital Management LLC now owns 2,083 shares of the company’s stock worth $59,000 after purchasing an additional 767 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Karat Packaging by 3.9% during the second quarter. First Trust Advisors LP now owns 22,061 shares of the company’s stock valued at $621,000 after buying an additional 830 shares during the last quarter. Independent Advisor Alliance boosted its position 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 worth $1,027,000 after buying an additional 1,059 shares during the period. Rhumbline Advisers grew its holdings in Karat Packaging by 10.3% in the 1st quarter. Rhumbline Advisers now owns 11,668 shares of the company’s stock worth $310,000 after buying an additional 1,088 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Karat Packaging by 2.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 59,768 shares of the company’s stock valued at $1,589,000 after acquiring an additional 1,307 shares during the period. 25.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KRT has been the topic of several recent analyst reports. Zacks Research downgraded Karat Packaging from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Wall Street Zen lowered Karat Packaging from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings downgraded shares of Karat Packaging from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Bank of America lowered shares of Karat Packaging from a “buy” rating to an “underperform” rating and decreased their target price for the company from $27.00 to $22.00 in a research report on Monday, November 17th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $29.67.

Karat Packaging Price Performance

NASDAQ:KRT opened at $21.70 on Tuesday. The business’s 50-day moving average price is $23.26 and its 200 day moving average price is $25.79. The firm has a market cap of $436.17 million, a P/E ratio of 14.47, a PEG ratio of 1.64 and a beta of 1.09. Karat Packaging Inc. has a 52-week low of $20.61 and a 52-week high of $33.89. The company has a quick ratio of 1.09, a current ratio of 2.14 and a debt-to-equity ratio of 0.14.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $124.52 million during the quarter, compared to the consensus estimate of $124.09 million. Karat Packaging had a net margin of 6.67% and a return on equity of 18.98%. As a group, sell-side analysts predict that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 21st were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 21st. This represents a $1.80 annualized dividend and a dividend yield of 8.3%. Karat Packaging’s dividend payout ratio is currently 120.00%.

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.