Karat Packaging Inc. $KRT Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 14.4% in the second quarter, HoldingsChannel.com reports. The firm owned 43,021 shares of the company’s stock after buying an additional 5,422 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Karat Packaging were worth $1,211,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Independent Advisor Alliance boosted its holdings in shares of Karat Packaging by 2.8% in the first quarter. Independent Advisor Alliance now owns 38,654 shares of the company’s stock valued at $1,027,000 after acquiring an additional 1,059 shares during the period. Rhumbline Advisers boosted its holdings in shares of Karat Packaging by 10.3% in the first quarter. Rhumbline Advisers now owns 11,668 shares of the company’s stock valued at $310,000 after acquiring an additional 1,088 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Karat Packaging by 2.2% in the first 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. GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 1,453 shares during the period. Finally, Martingale Asset Management L P boosted its holdings in shares of Karat Packaging by 13.4% in the first quarter. Martingale Asset Management L P now owns 12,713 shares of the company’s stock valued at $338,000 after acquiring an additional 1,500 shares during the period. 25.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KRT. Zacks Research raised Karat Packaging from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings downgraded Karat Packaging from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Bank of America upgraded Karat Packaging from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday. Finally, Wall Street Zen cut Karat Packaging from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $32.67.

Karat Packaging Price Performance

Karat Packaging stock opened at $23.02 on Monday. Karat Packaging Inc. has a 12 month low of $22.96 and a 12 month high of $33.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.68 and a quick ratio of 1.40. The business has a 50 day simple moving average of $24.92 and a 200-day simple moving average of $26.84. The stock has a market capitalization of $462.47 million, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09.

Karat Packaging Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, August 20th. This represents a $1.80 annualized dividend and a yield of 7.8%. Karat Packaging’s dividend payout ratio is presently 113.21%.

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.