Capricorn Fund Managers Ltd Acquires 40,268 Shares of Karooooo Ltd. $KARO

Capricorn Fund Managers Ltd grew its holdings in Karooooo Ltd. (NASDAQ:KARO) by 16.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 278,346 shares of the company’s stock after acquiring an additional 40,268 shares during the period. Karooooo comprises 2.2% of Capricorn Fund Managers Ltd’s holdings, making the stock its 15th biggest position. Capricorn Fund Managers Ltd’s holdings in Karooooo were worth $13,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC increased its holdings in shares of Karooooo by 7.5% during 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 during the last quarter. Bank of America Corp DE boosted its position in Karooooo by 17.2% during the second quarter. Bank of America Corp DE now owns 5,100 shares of the company’s stock worth $250,000 after purchasing an additional 750 shares during the period. Harbour Capital Advisors LLC boosted its position in Karooooo by 16.7% during the fourth quarter. Harbour Capital Advisors LLC now owns 5,425 shares of the company’s stock worth $242,000 after purchasing an additional 775 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Karooooo by 22.8% in the third quarter. BNP Paribas Financial Markets now owns 6,195 shares of the company’s stock valued at $354,000 after purchasing an additional 1,150 shares during the last quarter. Finally, State of Tennessee Department of Treasury increased its holdings in shares of Karooooo by 11.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 12,347 shares of the company’s stock valued at $618,000 after purchasing an additional 1,242 shares during the last quarter.

Karooooo Stock Performance

KARO opened at $49.36 on Wednesday. The firm has a market cap of $1.52 billion, a P/E ratio of 26.68 and a beta of 0.89. Karooooo Ltd. has a 52-week low of $41.25 and a 52-week high of $60.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.06. The business’s fifty day moving average is $48.21 and its 200-day moving average is $47.86.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.45 EPS for the quarter. Karooooo had a return on equity of 31.26% and a net margin of 18.07%.The business had revenue of $90.93 million during the quarter. Sell-side analysts expect that Karooooo Ltd. will post 2.37 EPS for the current fiscal year.

Karooooo Increases Dividend

The company also recently announced an annual dividend, which will be paid on Monday, July 27th. Stockholders of record on Friday, July 17th will be given a $1.50 dividend. This represents a dividend yield of 347.0%. The ex-dividend date is Friday, July 17th. This is a boost from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio is presently 67.57%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on KARO shares. Needham & Company LLC restated a “buy” rating on shares of Karooooo in a research note on Wednesday, June 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a research note on Friday, April 24th. UBS Group cut their price objective on shares of Karooooo from $60.00 to $55.00 and set a “buy” rating for the company in a report on Friday, May 15th. Roth Mkm restated a “buy” rating and set a $68.00 target price on shares of Karooooo in a research report on Thursday, May 14th. Finally, Wall Street Zen cut shares of Karooooo from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.75.

Karooooo Company Profile

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.