Karat Packaging Inc. (NASDAQ:KRT – Get Rating) VP Marvin Cheng acquired 1,000 shares of the company's stock in a transaction on Friday, December 16th. The stock was bought at an average cost of $13.44 per share, with a total value of $13,440.00. Following the completion of the acquisition, the vice president now directly owns 6,749,727 shares in the company, valued at $90,716,330.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Karat Packaging Price Performance
KRT stock traded down $0.34 during midday trading on Tuesday, reaching $13.00. 11,057 shares of the stock were exchanged, compared to its average volume of 16,873. The stock has a market capitalization of $258.80 million, a PE ratio of 10.40 and a beta of 1.12. Karat Packaging Inc. has a 52 week low of $12.50 and a 52 week high of $20.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.58 and a quick ratio of 1.48. The company has a fifty day moving average price of $14.38 and a 200 day moving average price of $16.74.
Get Karat Packaging alerts:Karat Packaging Announces Dividend
The company also recently disclosed a dividend, which was paid on Wednesday, November 30th. Investors of record on Monday, November 21st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, November 18th. This represents a yield of 2.63%.
Institutional Investors Weigh In On Karat Packaging
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Karat Packaging by 16.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 26,971 shares of the company's stock worth $431,000 after acquiring an additional 3,899 shares during the last quarter. State Street Corp grew its position in shares of Karat Packaging by 2.2% in the 3rd quarter. State Street Corp now owns 70,890 shares of the company's stock valued at $1,134,000 after buying an additional 1,504 shares during the last quarter. UBS Group AG grew its position in shares of Karat Packaging by 5.9% in the 3rd quarter. UBS Group AG now owns 92,600 shares of the company's stock valued at $1,481,000 after buying an additional 5,189 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Karat Packaging by 369.2% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 558,628 shares of the company's stock valued at $8,932,000 after buying an additional 439,575 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Karat Packaging by 24.4% in the 2nd quarter. Millennium Management LLC now owns 30,820 shares of the company's stock valued at $526,000 after buying an additional 6,046 shares during the last quarter. Institutional investors own 21.28% of the company's stock.Analyst Ratings Changes
KRT has been the topic of several recent analyst reports. TheStreet lowered Karat Packaging from a "c-" rating to a "d+" rating in a research note on Friday. Truist Financial decreased their price target on Karat Packaging from $33.00 to $25.00 in a research note on Friday, November 11th.
Karat Packaging Company Profile
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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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