American Century cut its investment in Karat Packaging (NASDAQ: KRT)

Learn about American Century Companies Inc.'s reduced investment in Karat Packaging Inc. (NASDAQ: KRT) and track Karat Packaging's stock performance,


3/26/20241 min read

American Century cut its investment
American Century cut its investment

American Century Companies Inc. sold its interest in Karat Packaging Inc. of about 23.3% in the first quarter. 

The stock owned 348,408 shares of the company’s stock after selling 106,109 shares during the period. The value of the shares was approximately $8,034,000.

Several other large investors also recently bought and sold shares of Karat Packaging. Northern Trust Corp., Charles Schwab Financial Services Inc., JPMorgan Chase & Co., Barclays PLC, and Wells Fargo & Company MN are among them.

Shares of Karat Packaging stock opened at $28.01 during recent Tuesday trading on NASDAQ. Over the last year, the stock had a low of $12.57 and a high of $30.94. 

The 50 day moving average price is $26.79 and the 200 day moving average price is $23.83. The company has a market cap of $559.36 million and a price-to-earnings ratio of 17.29.

On March 14, Karat Packaging reported quarterly earnings. Earnings of $0.24 per share were below analyst expectations. 

They also declared a dividend of $0.30 per share, up from their previous payment.

Analysts have set a new price target on Karat Packaging stock, with some calling it a good buy. They produce disposable items used in the restaurant and food industry such as crockery, tableware and cups.

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