Karat Packaging (NASDAQ:KRT) Stock Price Down 6.1% – Time to Sell?

Shares of Karat Packaging Inc. (NASDAQ:KRT) fell 6.1% during mid-day trading on Wednesday . The company traded as low as $32.41 and last traded at $31.43. 20,153 shares changed hands during trading, a decline of 35% from the average session volume of 31,093 shares. The stock had previously closed at $33.46.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. William Blair downgraded Karat Packaging from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd.

Karat Packaging Stock Performance

The firm has a market cap of $620.42 million, a PE ratio of 22.14 and a beta of 1.08. The firm has a 50-day moving average price of $30.42 and a two-hundred day moving average price of $28.40. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29.

Karat Packaging Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Monday, February 24th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Monday, February 24th. This is a boost from Karat Packaging’s previous quarterly dividend of $0.40. Karat Packaging’s dividend payout ratio (DPR) is currently 114.29%.

Institutional Investors Weigh In On Karat Packaging

Several hedge funds and other institutional investors have recently made changes to their positions in KRT. US Bancorp DE acquired a new stake in shares of Karat Packaging in the third quarter valued at approximately $30,000. Deutsche Bank AG increased its holdings in shares of Karat Packaging by 773.6% in the fourth quarter. Deutsche Bank AG now owns 1,590 shares of the company’s stock valued at $48,000 after purchasing an additional 1,408 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Karat Packaging by 38.4% in the fourth quarter. Copeland Capital Management LLC now owns 2,604 shares of the company’s stock valued at $79,000 after purchasing an additional 722 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Karat Packaging by 497.7% during the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock worth $95,000 after acquiring an additional 3,061 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Karat Packaging by 40.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,180 shares of the company’s stock worth $157,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 25.20% of the company’s stock.

About Karat Packaging

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.