Karat Packaging Inc. (KRT) To Go Ex-Dividend on February 20th

Karat Packaging Inc. (NASDAQ:KRT) announced a quarterly dividend on Thursday, February 5th. Investors of record on Friday, February 20th will be given a dividend of 0.45 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, February 20th.

Karat Packaging has a payout ratio of 97.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Karat Packaging to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 100.0%.

Karat Packaging Stock Performance

NASDAQ:KRT opened at $25.82 on Wednesday. The firm’s fifty day simple moving average is $24.16 and its 200 day simple moving average is $24.12. The company has a quick ratio of 1.09, a current ratio of 2.14 and a debt-to-equity ratio of 0.14. The stock has a market cap of $518.98 million, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.49 and a beta of 1.09. Karat Packaging has a twelve month low of $20.61 and a twelve month high of $33.89.

Analysts Set New Price Targets

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

Karat Packaging Company Profile

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.