North Star Investment Management Corp. Purchases 36,000 Shares of Karat Packaging Inc. $KRT

North Star Investment Management Corp. raised its position in Karat Packaging Inc. (NASDAQ:KRT) by 59.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,000 shares of the company’s stock after buying an additional 36,000 shares during the period. North Star Investment Management Corp. owned 0.49% of Karat Packaging worth $2,708,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KRT. Clearstead Advisors LLC raised its stake in shares of Karat Packaging by 188.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock valued at $34,000 after acquiring an additional 976 shares during the last quarter. CWM LLC increased its stake in shares of Karat Packaging by 61.5% in the fourth quarter. CWM LLC now owns 2,651 shares of the company’s stock valued at $60,000 after buying an additional 1,010 shares in the last quarter. Quarry LP acquired a new stake in shares of Karat Packaging in the third quarter valued at $70,000. Deutsche Bank AG raised its holdings in shares of Karat Packaging by 142.8% in the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after buying an additional 2,271 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Karat Packaging in the fourth quarter worth about $122,000. 25.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KRT has been the subject of a number of recent research reports. William Blair upgraded Karat Packaging from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 4th. Bank of America set a $24.00 price objective on Karat Packaging and gave the stock an “underperform” rating in a report on Friday, March 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Karat Packaging in a research report on Thursday, June 11th. Zacks Research lowered shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of Karat Packaging from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.50.

Karat Packaging Stock Up 0.0%

Shares of NASDAQ KRT opened at $31.73 on Monday. The stock has a market cap of $633.43 million, a P/E ratio of 20.09, a P/E/G ratio of 1.58 and a beta of 0.90. The firm has a 50 day moving average price of $28.58 and a 200 day moving average price of $26.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.15 and a current ratio of 2.29. Karat Packaging Inc. has a 52-week low of $20.61 and a 52-week high of $31.85.

Karat Packaging (NASDAQ:KRT) last issued its earnings results on Thursday, May 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. Karat Packaging had a net margin of 6.61% and a return on equity of 19.87%. The firm had revenue of $116.95 million during the quarter, compared to the consensus estimate of $112.98 million. Analysts expect that Karat Packaging Inc. will post 1.78 EPS for the current year.

Karat Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, May 21st. This represents a $1.80 annualized dividend and a yield of 5.7%. Karat Packaging’s payout ratio is currently 113.92%.

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.