Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 25,452 Shares

Karooooo Ltd. (NASDAQ:KARO) CEO Isaias Jose Calisto sold 25,452 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $64.65, for a total value of $1,645,471.80. Following the sale, the chief executive officer owned 17,794,030 shares of the company’s stock, valued at approximately $1,150,384,039.50. This represents a 0.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, August 3rd, Isaias Jose Calisto sold 20,417 shares of Karooooo stock. The shares were sold at an average price of $64.51, for a total transaction of $1,317,100.67.
• 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 value 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 value of $1,643,920.72.

Karooooo Stock Up 0.5%

Shares of KARO stock opened at $64.55 on Tuesday. The stock has a 50 day moving average of $53.78 and a 200 day moving average of $50.22. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.99 billion, a P/E ratio of 32.77 and a beta of 0.85. Karooooo Ltd. has a twelve month low of $41.25 and a twelve month high of $66.23.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Thursday, July 16th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.08. The business had revenue of $96.26 million for the quarter. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. As a group, sell-side analysts expect that Karooooo Ltd. will post 2.41 EPS for the current year.

Karooooo Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, July 27th. Investors of record on Friday, July 17th were given a dividend of $1.50 per share. This is a boost from Karooooo’s previous annual dividend of $1.25. This represents a yield of 239.0%. The ex-dividend date was Friday, July 17th. Karooooo’s dividend payout ratio (DPR) is 76.14%.

Hedge Funds Weigh In On Karooooo

Several hedge funds and other institutional investors have recently made changes to their positions in KARO. Capricorn Fund Managers Ltd lifted its stake in shares of Karooooo by 39.4% in the fourth quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock worth $10,833,000 after buying an additional 67,322 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in Karooooo by 238.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 17,917 shares of the company’s stock valued at $1,023,000 after acquiring an additional 12,621 shares in the last quarter. Aurora Investment Counsel purchased a new stake in Karooooo during the 4th quarter valued at about $1,651,000. Bullseye Asset Management LLC raised its holdings in Karooooo by 101.7% in the 4th quarter. Bullseye Asset Management LLC now owns 32,129 shares of the company’s stock valued at $1,461,000 after acquiring an additional 16,200 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. raised its holdings in Karooooo by 22.9% in the 4th 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 during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on KARO. Needham & Company LLC increased their target price on shares of 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 Karooooo from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Freedom Capital cut Karooooo from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. UBS Group reiterated a “buy” rating and set a $75.00 price target on shares of Karooooo in a research report on Thursday, July 16th. Finally, Roth Capital reissued a “buy” rating and issued a $74.00 price objective on shares of Karooooo in a report on Friday, July 17th. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price 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.