Karat Packaging Inc. (KRT) to Issue Quarterly Dividend of $0.35 on August 30th

Karat Packaging Inc. (NASDAQ:KRT) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Wednesday, August 21st will be paid a dividend of 0.35 per share on Friday, August 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Wednesday, August 21st.

Karat Packaging has a payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. 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 $1.40 annual dividend with an expected future payout ratio of 67.6%.

Karat Packaging Stock Down 0.5 %

Shares of KRT opened at $25.61 on Monday. The company has a quick ratio of 1.69, a current ratio of 3.33 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $28.17 and a 200 day moving average of $27.98. The company has a market cap of $511.56 million, a PE ratio of 17.30 and a beta of 1.06. Karat Packaging has a 52-week low of $17.23 and a 52-week high of $30.94.

Karat Packaging (NASDAQ:KRT) last announced its earnings results on Thursday, August 8th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.11). Karat Packaging had a net margin of 7.31% and a return on equity of 21.94%. The firm had revenue of $112.60 million during the quarter, compared to analysts’ expectations of $114.03 million. During the same period in the prior year, the company posted $0.68 EPS. On average, sell-side analysts expect that Karat Packaging will post 1.95 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial cut Karat Packaging from a “buy” rating to a “hold” rating and cut their target price for the company from $34.00 to $28.00 in a research note on Friday, August 9th.

Karat Packaging Company Profile

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.