SG Americas Securities LLC Sells 397 Shares of Karat Packaging Inc. (NASDAQ:KRT)

SG Americas Securities LLC cut its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 9.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,607 shares of the company’s stock after selling 397 shares during the period. SG Americas Securities LLC’s holdings in Karat Packaging were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KRT. Jacobs Levy Equity Management Inc. increased its holdings in shares of Karat Packaging by 2.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 36,922 shares of the company’s stock valued at $1,056,000 after purchasing an additional 710 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Karat Packaging by 103.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,723 shares of the company’s stock worth $43,000 after buying an additional 875 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Karat Packaging by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 26,444 shares of the company’s stock valued at $757,000 after buying an additional 2,096 shares during the period. Vanguard Group Inc. grew its holdings in Karat Packaging by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 348,678 shares of the company’s stock worth $9,976,000 after acquiring an additional 2,804 shares during the period. Finally, Rice Hall James & Associates LLC raised its position in shares of Karat Packaging by 5.0% during the 1st quarter. Rice Hall James & Associates LLC now owns 83,206 shares of the company’s stock valued at $2,381,000 after acquiring an additional 3,996 shares during the last quarter. 25.20% of the stock is currently owned by institutional investors and hedge funds.

Karat Packaging Trading Up 0.2 %

KRT opened at $26.38 on Tuesday. The firm’s fifty day moving average is $27.86 and its two-hundred day moving average is $28.02. The firm has a market cap of $526.94 million, a PE ratio of 17.82 and a beta of 1.06. Karat Packaging Inc. has a twelve month low of $17.23 and a twelve month high of $30.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.69 and a current ratio of 3.33.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.11). Karat Packaging had a return on equity of 21.94% and a net margin of 7.31%. The business had revenue of $112.60 million for the quarter, compared to analyst estimates of $114.03 million. During the same period in the previous year, the business posted $0.68 EPS. Equities research analysts anticipate that Karat Packaging Inc. will post 1.95 EPS for the current year.

Karat Packaging Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 21st will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.40 annualized dividend and a dividend yield of 5.31%. Karat Packaging’s dividend payout ratio is presently 94.59%.

Analysts Set New Price Targets

Separately, Truist Financial cut Karat Packaging from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $34.00 to $28.00 in a research note on Friday, August 9th.

Karat Packaging Company 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.