Capricorn Fund Managers Ltd Purchases 10,586 Shares of Karooooo Ltd. (NASDAQ:KARO)

Key Points

• Capricorn Fund Managers Ltd increased its stake in Karooooo Ltd. by 8.0%, holding 143,470 shares, which represents approximately 3.2% of their portfolio.
• Analysts have set price targets for Karooooo, with Raymond James increasing its target to $60.00, while Morgan Stanley raised its target to $53.00.
• Karooooo announced a dividend of $1.25 per share, representing a 2.2% yield, to be paid on August 22nd to stockholders of record.

Capricorn Fund Managers Ltd raised its position in shares of Karooooo Ltd. (NASDAQ:KARO - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,470 shares of the company's stock after purchasing an additional 10,586 shares during the period. Karooooo accounts for about 3.2% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 11th largest position. Capricorn Fund Managers Ltd owned approximately 0.46% of Karooooo worth $6,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KARO. Squarepoint Ops LLC increased its stake in shares of Karooooo by 6.8% in the fourth quarter. Squarepoint Ops LLC now owns 9,494 shares of the company's stock worth $429,000 after purchasing an additional 602 shares during the period. Lazard Asset Management LLC increased its stake in shares of Karooooo by 17.5% in the fourth quarter. Lazard Asset Management LLC now owns 4,961 shares of the company's stock worth $223,000 after purchasing an additional 740 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Karooooo in the fourth quarter worth about $210,000. Nipun Capital L.P. bought a new position in shares of Karooooo in the first quarter worth about $242,000. Finally, Northern Trust Corp bought a new position in shares of Karooooo in the fourth quarter worth about $340,000.

Karooooo Stock Down 1.7%

Shares of KARO stock traded down $0.80 on Friday, hitting $44.92. 56,271 shares of the stock were exchanged, compared to its average volume of 61,784. The company has a current ratio of 1.17, a quick ratio of 1.16 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $50.70 and a 200 day moving average of $46.47. The firm has a market capitalization of $1.39 billion, a P/E ratio of 26.12 and a beta of 1.07. Karooooo Ltd. has a fifty-two week low of $31.59 and a fifty-two week high of $63.36.

Karooooo (NASDAQ:KARO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.02. The business had revenue of $70.49 million for the quarter, compared to analyst estimates of $1.25 billion. Karooooo had a net margin of 20.23% and a return on equity of 31.48%. Equities analysts anticipate that Karooooo Ltd. will post 1.57 EPS for the current year.

Karooooo Dividend Announcement

The firm also recently announced a -- dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 15th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, August 15th. This represents a dividend yield of 220.0%. Karooooo's dividend payout ratio is presently 62.79%.

Wall Street Analyst Weigh In

KARO has been the topic of a number of recent analyst reports. Needham & Company LLC started coverage on Karooooo in a research note on Wednesday, July 16th. They issued a "buy" rating and a $60.00 price objective on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $60.00 target price (up previously from $58.00) on shares of Karooooo in a research note on Thursday, July 24th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $53.00 target price (up previously from $43.00) on shares of Karooooo in a research note on Thursday, June 26th.

Karooooo Company Profile

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.