Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 20,417 Shares

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 20,417 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.51, for a total transaction of $1,317,100.67. Following the completion of the transaction, the chief executive officer owned 17,773,613 shares in the company, valued at $1,146,575,774.63. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, July 31st, Isaias Jose Calisto sold 25,452 shares of Karooooo stock. The stock was sold at an average price of $64.65, for a total transaction of $1,645,471.80.
• On Thursday, July 30th, Isaias Jose Calisto sold 18,630 shares of Karooooo stock. The stock was sold at an average price of $63.47, for a total transaction of $1,182,446.10.
• On Wednesday, July 29th, Isaias Jose Calisto sold 31,897 shares of Karooooo stock. The shares were 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 shares were 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 shares were sold at an average price of $63.44, for a total transaction of $1,643,920.72.

Karooooo Price Performance

Shares of NASDAQ:KARO opened at $64.69 on Wednesday. The company’s fifty day moving average price is $54.11 and its 200 day moving average price is $50.36. Karooooo Ltd. has a 12 month low of $41.25 and a 12 month high of $66.23. 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 capitalization of $2.00 billion, a P/E ratio of 32.84 and a beta of 0.85.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The firm had revenue of $96.26 million during the quarter. As a group, sell-side analysts predict that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

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 issued a $1.50 dividend. This represents a dividend yield of 239.0%. The ex-dividend date of this dividend was Friday, July 17th. This is an increase from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio (DPR) is presently 76.14%.

Analysts Set New Price Targets

KARO has been the topic of a number of research reports. Raymond James Financial raised their price target on Karooooo from $60.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Needham & Company LLC increased their price objective on Karooooo from $60.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Zacks Research upgraded shares of Karooooo from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Wall Street Zen raised shares of Karooooo from a “hold” rating to a “buy” rating in a report on Saturday. Finally, UBS Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Karooooo in a report on Thursday, July 16th. 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 MarketBeat.com, Karooooo presently has an average rating of “Buy” and a consensus target price of $73.50.

Institutional Trading of Karooooo

Several hedge funds have recently modified their holdings of the business. Capricorn Fund Managers Ltd lifted its holdings in Karooooo by 39.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock valued at $10,833,000 after acquiring an additional 67,322 shares during the period. Marshall Wace LLP grew its stake in shares of Karooooo by 699.1% during the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after purchasing an additional 48,644 shares during the period. Two Sigma Investments LP increased its holdings in shares of Karooooo by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock valued at $4,234,000 after purchasing an additional 39,709 shares in the last quarter. Aurora Investment Counsel acquired a new stake in shares of Karooooo in the fourth quarter valued at about $1,651,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Karooooo in the second quarter valued at about $1,378,000.

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.