Eve Yen Sells 4,000 Shares of Karat Packaging Inc. (NASDAQ:KRT) Stock

Karat Packaging Inc. (NASDAQ:KRTGet Rating) Director Eve Yen sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $19.85, for a total value of $79,400.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $19,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:KRT traded down $1.09 during midday trading on Thursday, hitting $18.61. 16,683 shares of the stock were exchanged, compared to its average volume of 13,209. The stock has a market capitalization of $368.65 million and a price-to-earnings ratio of 15.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 3.35. The business’s 50-day moving average price is $18.21 and its 200 day moving average price is $18.82. Karat Packaging Inc. has a 12 month low of $14.70 and a 12 month high of $25.91.

Karat Packaging (NASDAQ:KRTGet Rating) last released its quarterly earnings results on Wednesday, March 23rd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The firm had revenue of $91.33 million for the quarter, compared to the consensus estimate of $96.03 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.51%. As a group, sell-side analysts expect that Karat Packaging Inc. will post 1.5 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in Karat Packaging in the fourth quarter valued at approximately $2,442,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Karat Packaging in the first quarter valued at approximately $2,363,000. BlackRock Inc. boosted its holdings in Karat Packaging by 37.6% in the third quarter. BlackRock Inc. now owns 317,818 shares of the company’s stock valued at $6,683,000 after acquiring an additional 86,875 shares during the last quarter. EAM Investors LLC bought a new stake in Karat Packaging in the third quarter valued at approximately $1,152,000. Finally, UBS Group AG boosted its holdings in Karat Packaging by 97.9% in the third quarter. UBS Group AG now owns 74,197 shares of the company’s stock valued at $1,561,000 after acquiring an additional 36,697 shares during the last quarter. Institutional investors own 19.69% of the company’s stock.

Separately, Truist Financial boosted their target price on Karat Packaging from $29.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, March 24th.

About Karat Packaging (Get Rating)

Karat Packaging Inc manufactures and distributes 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.

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