Karooooo Ltd. (NASDAQ:KARO – Get Free Report) CEO Isaias Jose Calisto sold 22,036 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $64.19, for a total value 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 $1,147,075,877.71. The trade was a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
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 shares were sold at an average price of $63.44, for a total value of $1,643,920.72.
Karooooo Stock Performance
Karooooo stock opened at $64.03 on Friday. The stock’s 50 day moving average price is $53.10 and its 200 day moving average price is $49.97. The firm has a market capitalization of $1.98 billion, a PE ratio of 32.50 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.02. Karooooo Ltd. has a one year low of $41.25 and a one year high of $66.19.
Karooooo Increases Dividend
The company also recently announced an annual dividend, which was paid on Monday, July 27th. Stockholders of record on Friday, July 17th were paid a $1.50 dividend. This represents a dividend yield of 239.0%. This is a boost from Karooooo’s previous annual dividend of $1.25. The ex-dividend date was Friday, July 17th. Karooooo’s payout ratio is currently 76.14%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on KARO shares. Roth Capital reaffirmed a “buy” rating and set a $74.00 price target on shares of Karooooo in a research note on Friday, July 17th. Zacks Research upgraded Karooooo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Freedom Capital lowered Karooooo from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Wall Street Zen cut Karooooo from a “buy” rating to a “hold” rating in a research note on Sunday, June 21st. Finally, Needham & Company LLC increased their price target on Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Karooooo currently has an average rating of “Buy” and a consensus price target of $73.50.
Get Our Latest Analysis on Karooooo
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in KARO. Capricorn Fund Managers Ltd grew its holdings in Karooooo by 39.4% during the 4th quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock worth $10,833,000 after acquiring an additional 67,322 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Karooooo by 699.1% in the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock valued at $2,723,000 after purchasing an additional 48,644 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Karooooo by 115.4% during the third quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock worth $4,234,000 after purchasing an additional 39,709 shares during the last quarter. Aurora Investment Counsel acquired a new position in Karooooo in the fourth quarter worth 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.
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