Capricorn Fund Managers Ltd Grows Stock Holdings in 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 grew its position in Karooooo Ltd. (NASDAQ:KARO - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,470 shares of the company's stock after purchasing an additional 10,586 shares during the period. Karooooo comprises about 3.2% of Capricorn Fund Managers Ltd's holdings, 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.

Several other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Karooooo during the 4th quarter valued at about $635,000. Marshall Wace LLP boosted its stake in Karooooo by 32.4% during the 4th quarter. Marshall Wace LLP now owns 39,021 shares of the company's stock valued at $1,762,000 after purchasing an additional 9,552 shares during the period. JPMorgan Chase & Co. boosted its stake in Karooooo by 1,727.0% during the 4th quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock valued at $403,000 after purchasing an additional 8,445 shares during the period. Northern Trust Corp bought a new stake in Karooooo during the 4th quarter valued at approximately $340,000. Finally, Nipun Capital L.P. bought a new stake in Karooooo during the 1st quarter valued at approximately $242,000.

Karooooo Price Performance

NASDAQ:KARO traded down $0.37 during trading hours on Wednesday, reaching $46.44. 48,314 shares of the company were exchanged, compared to its average volume of 60,529. The company has a market capitalization of $1.43 billion, a P/E ratio of 27.00 and a beta of 1.08. Karooooo Ltd. has a 1-year low of $31.59 and a 1-year high of $63.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.16. The business has a 50 day moving average of $51.01 and a 200 day moving average of $46.50.

Karooooo (NASDAQ:KARO - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. Karooooo had a return on equity of 31.48% and a net margin of 20.23%. The firm had revenue of $70.49 million during the quarter, compared to analysts' expectations of $1.25 billion. Research analysts forecast 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 2.2%. Karooooo's payout ratio is 62.79%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Needham & Company LLC assumed coverage on Karooooo in a research note on Wednesday, July 16th. They issued a "buy" rating and a $60.00 target price for the company. Raymond James Financial reissued an "outperform" rating and issued a $60.00 target price (up from $58.00) on shares of Karooooo in a research note on Thursday, July 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $53.00 price objective (up from $43.00) on shares of Karooooo in a research note on Thursday, June 26th.

About Karooooo

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.