Karat Packaging Inc. (KRT) To Go Ex-Dividend on August 21st

Karat Packaging Inc. (NASDAQ:KRT) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 21st will be given a dividend of 0.47 per share on Friday, August 28th. This represents a c) annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, August 21st. This is a 4.4% increase from Karat Packaging’s previous quarterly dividend of $0.45.

Karat Packaging has a payout ratio of 97.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Karat Packaging to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 75.3%.

Karat Packaging Trading Up 1.1%

KRT traded up $0.46 on Thursday, reaching $42.80. 2,683 shares of the company traded hands, compared to its average volume of 95,249. The company has a quick ratio of 1.15, a current ratio of 2.29 and a debt-to-equity ratio of 0.15. The company has a market cap of $854.48 million, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.78 and a beta of 0.82. The firm has a fifty day simple moving average of $33.71 and a two-hundred day simple moving average of $29.13. Karat Packaging has a one year low of $20.61 and a one year high of $43.00.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $116.95 million for the quarter, compared to analyst estimates of $112.98 million. Karat Packaging had a return on equity of 19.87% and a net margin of 6.61%. As a group, equities research analysts expect that Karat Packaging will post 1.78 earnings per share for the current year.

Institutional Trading of Karat Packaging

Several hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC increased its position in Karat Packaging by 188.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock valued at $34,000 after acquiring an additional 976 shares during the last quarter. CWM LLC raised its position in Karat Packaging by 61.5% during the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock worth $60,000 after buying an additional 1,010 shares during the last quarter. Quarry LP purchased a new stake in shares of Karat Packaging in the third quarter worth about $70,000. Deutsche Bank AG increased its position in shares of Karat Packaging by 142.8% in the fourth quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock valued at $87,000 after buying an additional 2,271 shares in the last quarter. Finally, State of Wyoming purchased a new position in Karat Packaging in the 4th quarter valued at about $122,000. Institutional investors own 25.20% of the company’s stock.

Karat Packaging Company 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.