Harel Insurance Investments & Financial Services Ltd. Boosts Position in Karat Packaging Inc. $KRT

Harel Insurance Investments & Financial Services Ltd. raised its position in Karat Packaging Inc. (NASDAQ:KRT) by 40.3% during the first quarter, Holdings Channel reports. The fund owned 151,181 shares of the company’s stock after acquiring an additional 43,451 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Karat Packaging were worth $4,221,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bank of Montreal Can bought a new position in shares of Karat Packaging in the 4th quarter worth approximately $5,216,000. KTF Investments LLC purchased a new stake in shares of Karat Packaging in the 4th quarter worth $5,075,000. Polar Asset Management Partners Inc. bought a new position in Karat Packaging in the 3rd quarter worth $5,039,000. Marshall Wace LLP purchased a new position in Karat Packaging during the second quarter valued at $4,312,000. Finally, CWA Asset Management Group LLC bought a new stake in Karat Packaging during the fourth quarter valued at about $2,398,000. 25.20% of the stock is currently owned by institutional investors.

Karat Packaging Trading Up 1.5%

Shares of KRT opened at $35.99 on Thursday. The firm has a market cap of $718.50 million, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 1.76 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.29 and a quick ratio of 1.15. Karat Packaging Inc. has a 1 year low of $20.61 and a 1 year high of $36.35. The company has a 50 day simple moving average of $29.93 and a two-hundred day simple moving average of $27.41.

Karat Packaging (NASDAQ:KRT) last released its earnings results on Thursday, May 7th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Karat Packaging had a net margin of 6.61% and a return on equity of 19.87%. The firm had revenue of $116.95 million for the quarter, compared to the consensus estimate of $112.98 million. On average, equities analysts expect that Karat Packaging Inc. will post 1.78 earnings per share for the current fiscal year.

Karat Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Thursday, May 21st. Karat Packaging’s dividend payout ratio is 113.92%.

Analyst Ratings Changes

KRT has been the topic of several recent research reports. William Blair raised Karat Packaging from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 4th. Zacks Research cut shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Karat Packaging in a report on Thursday, June 11th. Bank of America increased their price objective on shares of Karat Packaging from $23.00 to $34.00 and gave the stock an “underperform” rating in a research note on Tuesday. Finally, Lake Street Capital restated a “buy” rating and set a $39.00 target price on shares of Karat Packaging in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.50.

Karat Packaging Profile

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.