Karat Packaging Inc. (NASDAQ:KRT) Short Interest Update

Karat Packaging Inc. (NASDAQ:KRT) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 68,700 shares, a decrease of 8.0% from the December 15th total of 74,700 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 35,500 shares, the days-to-cover ratio is presently 1.9 days.

Karat Packaging Price Performance

NASDAQ KRT opened at $29.58 on Friday. The firm’s 50 day moving average is $30.27 and its 200-day moving average is $27.99. The company has a quick ratio of 1.82, a current ratio of 3.12 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $592.19 million, a PE ratio of 21.13 and a beta of 1.08. Karat Packaging has a 12-month low of $23.10 and a 12-month high of $33.14.

Karat Packaging Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th were paid a $0.40 dividend. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 5.41%. The ex-dividend date was Wednesday, November 20th. Karat Packaging’s payout ratio is presently 114.29%.

Wall Street Analyst Weigh In

KRT has been the subject of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of Karat Packaging from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. William Blair lowered Karat Packaging from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd.

Institutional Investors Weigh In On Karat Packaging

Several institutional investors and hedge funds have recently added to or reduced their stakes in KRT. US Bancorp DE acquired a new position in shares of Karat Packaging during the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC acquired a new stake in shares of Karat Packaging in the 3rd quarter valued at approximately $49,000. Nisa Investment Advisors LLC grew its stake in shares of Karat Packaging by 497.7% in the third quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock valued at $95,000 after buying an additional 3,061 shares in the last quarter. Rhumbline Advisers increased its holdings in Karat Packaging by 4.4% during the second quarter. Rhumbline Advisers now owns 9,203 shares of the company’s stock worth $272,000 after buying an additional 387 shares during the last quarter. Finally, Kings Path Partners LLC bought a new stake in Karat Packaging during the third quarter worth $401,000. 25.20% of the stock is owned by institutional investors.

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.