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

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 18,630 shares of the business’s stock in a transaction that occurred on 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 approximately $1,131,002,522.54. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 transaction 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 transaction 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 transaction of $1,643,920.72.

Karooooo Price Performance

Shares of KARO stock opened at $64.24 on Friday. Karooooo Ltd. has a 12-month low of $41.25 and a 12-month high of $66.23. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 32.61 and a beta of 0.89. 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 firm has a fifty day moving average of $53.44 and a 200-day moving average of $50.07.

Karooooo (NASDAQ:KARO) last released its quarterly earnings data on Thursday, July 16th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, equities research analysts forecast that Karooooo Ltd. will post 2.41 earnings per share for the current year.

Karooooo Increases Dividend

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

Institutional Trading of Karooooo

Several hedge funds and other institutional investors have recently modified their holdings of KARO. Capricorn Fund Managers Ltd raised its stake in shares of 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 purchasing an additional 40,268 shares during the period. Schwartz Investment Counsel Inc. boosted its position in shares of Karooooo by 22.9% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock worth $3,566,000 after buying an additional 14,600 shares during the period. Two Sigma Investments LP boosted 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 buying an additional 39,709 shares during the period. Marshall Wace LLP grew its holdings in shares of Karooooo by 699.1% during the second quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after buying an additional 48,644 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of 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 buying an additional 14,078 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group reiterated a “buy” rating and set a $75.00 price objective on shares of Karooooo in a report on Thursday, July 16th. Roth Capital reissued a “buy” rating and set a $74.00 target price on shares of Karooooo in a research note on Friday, July 17th. Needham & Company LLC increased their target price on Karooooo from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Karooooo from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Karooooo presently has a consensus 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.