Karat Packaging Inc. (NASDAQ:KRT) Declares Quarterly Dividend of $0.45

Karat Packaging Inc. (NASDAQ:KRT) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Monday, February 24th will be paid a dividend of 0.45 per share on Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 5.86%. This is a boost from Karat Packaging’s previous quarterly dividend of $0.40.

Karat Packaging has a dividend payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Karat Packaging to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 88.9%.

Karat Packaging Stock Performance

Shares of NASDAQ KRT opened at $30.72 on Friday. The stock’s 50-day moving average is $30.39 and its 200 day moving average is $28.26. The stock has a market cap of $615.01 million, a price-to-earnings ratio of 21.94 and a beta of 1.08. Karat Packaging has a 1-year low of $23.10 and a 1-year high of $33.14. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29.

Wall Street Analyst Weigh In

Several research firms have commented on KRT. William Blair downgraded shares of Karat Packaging from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Stifel Nicolaus increased their target price on shares of Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, December 11th.

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.