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 the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were 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. This trade represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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 Up 0.0%

Shares of NASDAQ:KARO traded up $0.02 during trading on Wednesday, reaching $63.98. 20,216 shares of the stock were exchanged, compared to its average volume of 79,341. Karooooo Ltd. has a 1-year low of $41.25 and a 1-year high of $66.19. The stock has a fifty day moving average of $52.41 and a two-hundred day moving average of $49.70. 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 firm has a market cap of $1.98 billion, a price-to-earnings ratio of 32.48 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last posted its quarterly 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 business had revenue of $96.26 million during the quarter. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. Research analysts anticipate that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Karooooo Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Monday, July 27th. Stockholders of record on Friday, July 17th were issued a dividend of $1.50 per share. This is an increase from Karooooo’s previous annual dividend of $1.25. This represents a dividend yield of 239.0%. The ex-dividend date was Friday, July 17th. Karooooo’s dividend payout ratio is 76.14%.

Institutional Investors Weigh In On Karooooo

Institutional investors have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd increased its stake in Karooooo by 16.9% in the 1st quarter. Capricorn Fund Managers Ltd now owns 278,346 shares of the company’s stock valued at $13,873,000 after buying an additional 40,268 shares during the last quarter. Schwartz Investment Counsel Inc. grew its holdings in shares of Karooooo by 22.9% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock valued at $3,566,000 after acquiring an additional 14,600 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of 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 in the last quarter. Marshall Wace LLP increased its position in shares of Karooooo by 699.1% during the second 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 during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Karooooo by 43.1% during the fourth quarter. First Trust Advisors LP now owns 46,767 shares of the company’s stock worth $2,128,000 after acquiring an additional 14,078 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KARO shares. Raymond James Financial raised their price target on shares of Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Needham & Company LLC boosted their price objective on Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Wall Street Zen cut Karooooo from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Finally, Freedom Capital downgraded Karooooo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Karooooo has an average rating of “Buy” and an average 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.