Karooooo (NASDAQ:KARO) CEO Sells 18,630 Shares of Stock

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 18,630 shares of Karooooo stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $63.47, for a total transaction of $1,182,446.10. Following the transaction, the chief executive officer owned 17,819,482 shares of the company’s stock, valued at $1,131,002,522.54. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, July 29th, Isaias Jose Calisto sold 31,897 shares of Karooooo stock. The stock was sold at an average price of $64.43, for a total value of $2,055,123.71.
• On Tuesday, July 28th, Isaias Jose Calisto sold 22,036 shares of Karooooo stock. The stock was sold at an average price of $64.19, for a total value of $1,414,490.84.
• 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 value of $1,643,920.72.

Karooooo Stock Up 0.3%

KARO stock traded up $0.20 during trading on Friday, reaching $64.23. The stock had a trading volume of 28,536 shares, compared to its average volume of 80,167. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 32.61 and a beta of 0.89. The company’s 50 day moving average is $53.10 and its two-hundred day moving average is $49.97. Karooooo Ltd. has a one year low of $41.25 and a one year high of $66.23.

Karooooo (NASDAQ:KARO) last announced its earnings results on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. The firm 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%. Equities research analysts forecast that Karooooo Ltd. will post 2.41 EPS for the current year.

Karooooo Increases Dividend

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

Institutional Investors Weigh In On Karooooo

Hedge funds have recently added to or reduced their stakes in the stock. DGS Capital Management LLC lifted its position in Karooooo by 5.7% during the first quarter. DGS Capital Management LLC now owns 7,359 shares of the company’s stock valued at $367,000 after purchasing an additional 398 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Karooooo by 1.4% during the 1st quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock valued at $1,395,000 after acquiring an additional 400 shares during the period. Lazard Asset Management LLC increased its holdings in Karooooo by 7.5% in the 3rd quarter. Lazard Asset Management LLC now owns 6,139 shares of the company’s stock worth $351,000 after acquiring an additional 430 shares in the last quarter. Bank of America Corp DE increased its holdings in Karooooo by 17.2% in the 2nd quarter. Bank of America Corp DE now owns 5,100 shares of the company’s stock worth $250,000 after acquiring an additional 750 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Karooooo by 22.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,195 shares of the company’s stock worth $354,000 after acquiring an additional 1,150 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KARO shares. Wall Street Zen cut Karooooo from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Roth Capital restated a “buy” rating and issued a $74.00 price objective on shares of Karooooo in a report on Friday, July 17th. Raymond James Financial lifted their price target on Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. UBS Group reissued a “buy” rating and set a $75.00 price objective on shares of Karooooo in a research report on Thursday, July 16th. Finally, Needham & Company LLC upped their target price on shares of Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $73.50.

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.