CWA Asset Management Group LLC Buys New Stake in Karat Packaging Inc. $KRT

CWA Asset Management Group LLC purchased a new stake in Karat Packaging Inc. (NASDAQ:KRT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 106,265 shares of the company’s stock, valued at approximately $2,398,000. CWA Asset Management Group LLC owned about 0.53% of Karat Packaging as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in shares of Karat Packaging in the 3rd quarter valued at about $27,000. CWM LLC grew its holdings in Karat Packaging by 378.4% during the third quarter. CWM LLC now owns 1,641 shares of the company’s stock worth $41,000 after acquiring an additional 1,298 shares during the period. Quarry LP acquired a new stake in Karat Packaging during the third quarter worth about $70,000. Jane Street Group LLC purchased a new position in Karat Packaging during the first quarter valued at approximately $219,000. Finally, Prelude Capital Management LLC purchased a new position in Karat Packaging during the third quarter valued at approximately $227,000. 25.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, January 22nd. Zacks Research raised shares of Karat Packaging from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen raised shares of Karat Packaging from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Bank of America set a $24.00 target price on shares of Karat Packaging and gave the company an “underperform” rating in a research note on Friday, March 13th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Karat Packaging has a consensus rating of “Reduce” and a consensus price target of $27.50.

Karat Packaging Price Performance

Shares of Karat Packaging stock opened at $26.91 on Friday. The company has a quick ratio of 1.09, a current ratio of 2.30 and a debt-to-equity ratio of 0.15. Karat Packaging Inc. has a twelve month low of $20.61 and a twelve month high of $32.68. The business has a 50-day moving average price of $25.04 and a 200 day moving average price of $24.02. The firm has a market cap of $537.12 million, a PE ratio of 17.25, a P/E/G ratio of 1.30 and a beta of 1.09.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.06. Karat Packaging had a return on equity of 19.63% and a net margin of 6.73%.The company had revenue of $115.62 million for the quarter, compared to the consensus estimate of $113.95 million. Sell-side analysts predict that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were given a dividend of $0.45 per share. The ex-dividend date was Friday, February 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.7%. Karat Packaging’s dividend payout ratio (DPR) is 115.38%.

About Karat Packaging

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.