Eve Yen sells 4,000 shares of Karat Packaging Inc. (NASDAQ:KRT)

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Karat Packaging Inc. (NASDAQ: KRTGet a rating) Director Eve Yen sold 4,000 shares of the company in a trade dated Wednesday, May 18. The stock was sold at an average price of $19.85, for a total value of $79,400.00. Following the transaction, the director now directly owns 1,000 shares of the company, valued at approximately $19,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at this link.

Shares of NASDAQ: KRT was trading down $1.09 in Thursday’s midday session, hitting $18.61. 16,683 shares were traded, against an average volume of 13,209. The stock has a market capitalization of $368.65 million and a price-earnings ratio of 15.04. The company has a debt ratio of 0.37, a quick ratio of 1.41 and a current ratio of 3.35. The company’s 50-day moving average price is $18.21 and its 200-day moving average price is $18.82. Karat Packaging Inc. has a 12 month minimum of $14.70 and a 12 month maximum of $25.91.

Packaging carats (NASDAQ: KRTGet a rating) last released its quarterly results on Wednesday, March 23. The company reported earnings per share of $0.28 for the quarter, missing the consensus estimate of $0.29 per ($0.01). The company posted revenue of $91.33 million for the quarter, versus a consensus estimate of $96.03 million. Karat Packaging had a return on equity of 19.84% and a net margin of 6.51%. As a group, sell-side analysts expect Karat Packaging Inc. to post 1.5 EPS for the current year.

Several large investors have recently increased or reduced their stake in the company. Victory Capital Management Inc. acquired a new stake in Karat Packaging in the fourth quarter valued at approximately $2,442,000. Empirical Financial Services LLC dba Empirical Wealth Management acquired a new stake in Karat Packaging in the first quarter valued at approximately $2,363,000. BlackRock Inc. increased its stake in Karat Packaging by 37.6% in the third quarter. BlackRock Inc. now owns 317,818 shares of the company valued at $6,683,000 after acquiring an additional 86,875 shares in the last quarter. EAM Investors LLC acquired a new stake in Karat Packaging in the third quarter worth approximately $1,152,000. Finally, UBS Group AG increased its stake in Karat Packaging to 97.9% in the third quarter. UBS Group AG now owns 74,197 shares of the company valued at $1,561,000 after acquiring an additional 36,697 shares in the last quarter. Institutional investors hold 19.69% of the company’s shares.

Separately, Truist Financial raised its price target on Karat Packaging from $29.00 to $31.00 and gave the stock a “buy” rating in a Thursday, March 24 research note.

About Karat Packaging (Get a rating)

Karat Packaging Inc manufactures and distributes single-use disposable products in plastic, paper, biopolymer-based and other compostable forms used in various food service and catering establishments. It provides food and take-out containers, bags, dishes, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other branded products. Karat Earth.

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