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Karat Packaging Inc. (NASDAQ:KRT – Get Rating) VP Marvin Cheng purchased 1,000 shares of the business’s stock in a transaction dated Friday, December 16th. The shares were purchased at an average cost of $13.44 per share, for a total transaction of $13,440.00. Following the purchase, the vice president now directly owns 6,749,727 shares of the company’s stock, valued at $90,716,330.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Karat Packaging Trading Down 2.5 %
Shares of KRT traded down $0.34 during trading hours on Tuesday, hitting $13.00. 11,057 shares of the stock traded hands, compared to its average volume of 16,873. The company has a current ratio of 3.58, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Karat Packaging Inc. has a 1-year low of $12.50 and a 1-year high of $20.99. The firm has a market capitalization of $258.80 million, a PE ratio of 10.40 and a beta of 1.12. The business has a fifty day moving average of $14.38 and a 200-day moving average of $16.74.
Karat Packaging Dividend Announcement
The business also recently announced a dividend, which was paid on Wednesday, November 30th. Shareholders of record on Monday, November 21st were paid a $0.35 dividend. This represents a yield of 2.63%. The ex-dividend date was Friday, November 18th.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on KRT. TheStreet lowered Karat Packaging from a “c-” rating to a “d+” rating in a research note on Friday. Truist Financial cut their price target on Karat Packaging from $33.00 to $25.00 in a research note on Friday, November 11th.
Hedge Funds Weigh In On Karat Packaging
Several hedge funds have recently added to or reduced their stakes in KRT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Karat Packaging by 369.2% in the third 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 period. Wellington Management Group LLP raised its position in shares of Karat Packaging by 43.8% during the first quarter. Wellington Management Group LLP now owns 109,584 shares of the company’s stock worth $2,175,000 after purchasing an additional 33,391 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Karat Packaging during the first quarter worth about $334,000. Victory Capital Management Inc. grew its holdings in shares of Karat Packaging by 10.0% during the second quarter. Victory Capital Management Inc. now owns 121,029 shares of the company’s stock worth $2,065,000 after buying an additional 11,009 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Karat Packaging during the first quarter worth about $215,000. Institutional investors and hedge funds own 21.28% of the company’s stock.
About Karat Packaging
(Get Rating)
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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