Karat Packaging Inc. (NASDAQ:KRT) to Issue Dividend Increase – $0.35 Per Share

Karat Packaging Inc. (NASDAQ:KRTGet Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.35 per share on Friday, May 24th. This represents a $1.40 annualized dividend and a dividend yield of 5.12%. 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 65.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Karat Packaging to earn $2.12 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 66.0%.

Karat Packaging Stock Up 2.5 %

NASDAQ:KRT opened at $27.37 on Tuesday. The firm has a market cap of $546.48 million, a P/E ratio of 18.49 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. Karat Packaging has a fifty-two week low of $14.74 and a fifty-two week high of $30.94. The firm has a 50-day simple moving average of $28.00 and a two-hundred day simple moving average of $25.31.

Karat Packaging (NASDAQ:KRTGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.04). The firm had revenue of $95.61 million for the quarter, compared to the consensus estimate of $99.76 million. Karat Packaging had a net margin of 7.31% and a return on equity of 21.82%. During the same quarter in the prior year, the business posted $0.45 earnings per share. Analysts predict that Karat Packaging will post 1.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KRT has been the subject of a number of analyst reports. Truist Financial raised their price objective 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. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Karat Packaging in a report on Friday, March 15th.

Check Out Our Latest Stock Report on KRT

About Karat Packaging

(Get Free Report)

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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Dividend History for Karat Packaging (NASDAQ:KRT)

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