Hsbc Holdings PLC Acquires 1,823 Shares of Karat Packaging Inc. $KRT

Hsbc Holdings PLC boosted its holdings in Karat Packaging Inc. (NASDAQ:KRT) by 23.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,732 shares of the company’s stock after purchasing an additional 1,823 shares during the period. Hsbc Holdings PLC’s holdings in Karat Packaging were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KRT. GAMMA Investing LLC grew its position in 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 purchasing an additional 1,453 shares in the last quarter. Deutsche Bank AG grew its position in shares of Karat Packaging by 773.6% in the 4th quarter. Deutsche Bank AG now owns 1,590 shares of the company’s stock valued at $48,000 after acquiring an additional 1,408 shares during the period. Comerica Bank grew its position in shares of Karat Packaging by 107.8% in the 4th quarter. Comerica Bank now owns 5,262 shares of the company’s stock valued at $159,000 after acquiring an additional 2,730 shares during the period. Wells Fargo & Company MN grew its position in shares of Karat Packaging by 20.8% in the 4th quarter. Wells Fargo & Company MN now owns 5,538 shares of the company’s stock valued at $168,000 after acquiring an additional 955 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Karat Packaging in the 4th quarter valued at about $231,000. Institutional investors own 25.20% of the company’s stock.

Karat Packaging Stock Performance

Shares of KRT stock opened at $25.67 on Friday. The company has a market capitalization of $515.71 million, a price-to-earnings ratio of 16.14, a PEG ratio of 1.33 and a beta of 1.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.40 and a current ratio of 2.68. The company has a 50-day simple moving average of $27.02 and a 200 day simple moving average of $27.83. Karat Packaging Inc. has a 52 week low of $23.00 and a 52 week high of $33.89.

Karat Packaging Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 20th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.80 annualized dividend and a dividend yield of 7.0%. Karat Packaging’s payout ratio is presently 113.21%.

Wall Street Analyst Weigh In

KRT has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Karat Packaging from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 9th. Bank of America initiated coverage on shares of Karat Packaging in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, Truist Financial lifted their price objective on shares of Karat Packaging from $28.00 to $31.00 and gave the company a “hold” rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $31.67.

Insider Activity at Karat Packaging

In related news, CEO Alan Yu sold 112,500 shares of Karat Packaging stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $27.00, for a total transaction of $3,037,500.00. Following the completion of the sale, the chief executive officer owned 6,091,305 shares of the company’s stock, valued at approximately $164,465,235. The trade was a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 66.20% of the company’s stock.

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.