Karat Packaging Inc. (NASDAQ:KRT – Get Free Report) 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.
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.
Read Our Latest Research Report on Karat Packaging
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.
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