Karat Packaging Inc. (NASDAQ:KRT – Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.35 per share on Friday, May 24th. This represents a $1.40 annualized dividend and a yield of 4.84%. The ex-dividend date is Thursday, May 16th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.30.
Karat Packaging has a dividend payout ratio of 56.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Karat Packaging to earn $2.07 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 58.0%.
Karat Packaging Stock Down 1.5 %
Shares of Karat Packaging stock traded down $0.44 during trading on Thursday, hitting $28.91. 25,640 shares of the stock traded hands, compared to its average volume of 46,190. The company has a fifty day moving average price of $28.13 and a two-hundred day moving average price of $25.13. Karat Packaging has a twelve month low of $14.30 and a twelve month high of $30.94. The stock has a market cap of $577.33 million, a P/E ratio of 17.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.88 and a current ratio of 3.49.
Analysts Set New Price Targets
Several brokerages have recently issued reports on KRT. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Karat Packaging in a research note on Friday, March 15th. Truist Financial lifted their price target on shares of Karat Packaging from $24.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, March 15th.
View Our Latest Research Report on Karat Packaging
About Karat Packaging
Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of 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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