Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 22,036 Shares of Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 22,036 shares of Karooooo stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $64.19, for a total transaction of $1,414,490.84. Following the completion of the sale, the chief executive officer directly owned 17,870,009 shares of the company’s stock, valued at approximately $1,147,075,877.71. The trade was a 0.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Isaias Jose Calisto also recently made the following trade(s):

• On Monday, July 27th, Isaias Jose Calisto sold 25,913 shares of Karooooo stock. The stock was sold at an average price of $63.44, for a total transaction of $1,643,920.72.

Karooooo Trading Up 0.8%

Karooooo stock opened at $64.46 on Thursday. Karooooo Ltd. has a one year low of $41.25 and a one year high of $66.19. The company’s fifty day moving average price is $52.75 and its two-hundred day moving average price is $49.84. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 32.72 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The company had revenue of $96.26 million during the quarter. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. On average, analysts forecast that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Karooooo Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, July 27th. Investors of record on Friday, July 17th were paid a $1.50 dividend. This represents a yield of 239.0%. The ex-dividend date was Friday, July 17th. This is a boost from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio (DPR) is 76.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Freedom Capital lowered shares of Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a research report on Friday, April 24th. Needham & Company LLC increased their target price on shares of Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Roth Capital reissued a “buy” rating and set a $74.00 target price on shares of Karooooo in a research report on Friday, July 17th. Finally, Wall Street Zen lowered Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $73.50.

Institutional Investors Weigh In On Karooooo

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capricorn Fund Managers Ltd raised its stake in shares of Karooooo by 39.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock valued at $10,833,000 after buying an additional 67,322 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Karooooo by 699.1% during the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock valued at $2,723,000 after acquiring an additional 48,644 shares in the last quarter. Two Sigma Investments LP increased its stake in Karooooo by 115.4% in the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after acquiring an additional 39,709 shares during the period. Aurora Investment Counsel bought a new stake in Karooooo in the fourth quarter valued at about $1,651,000. Finally, Russell Investments Group Ltd. acquired a new position in Karooooo in the second quarter worth about $1,378,000.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.