Credit Agricole S A Raises Position in Karooooo Ltd. $KARO

Key Points

• Credit Agricole S A increased its holdings in Karooooo Ltd. by 95.5% during the 1st quarter, owning 14,049 shares worth approximately $598,000.
• Karooooo has a consensus rating of "Buy" from analysts, with a target price averaging $57.67 following various upgrade reports.
• The company recently declared a $1.25 per share dividend, yielding 220.0%, and has a debt-to-equity ratio of just 0.05.

Credit Agricole S A boosted its stake in shares of Karooooo Ltd. (NASDAQ:KARO - Free Report) by 95.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,049 shares of the company's stock after buying an additional 6,861 shares during the quarter. Credit Agricole S A's holdings in Karooooo were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KARO. BNP Paribas Financial Markets acquired a new position in shares of Karooooo in the fourth quarter worth approximately $210,000. Lazard Asset Management LLC lifted its position in shares of Karooooo by 17.5% in the 4th 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. Nipun Capital L.P. acquired a new position in shares of Karooooo in the 1st quarter worth approximately $242,000. Northern Trust Corp acquired a new position in shares of Karooooo in the 4th quarter worth approximately $340,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Karooooo by 1,727.0% in the 4th quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock worth $403,000 after purchasing an additional 8,445 shares during the period.

Karooooo Stock Up 1.8%

Shares of NASDAQ:KARO traded up $0.91 during trading on Thursday, reaching $52.53. 36,768 shares of the stock were exchanged, compared to its average volume of 58,184. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.17 and a quick ratio of 1.16. Karooooo Ltd. has a 1-year low of $34.01 and a 1-year high of $63.36. The stock has a fifty day moving average of $48.44 and a two-hundred day moving average of $46.77. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 30.54 and a beta of 1.07.

Karooooo (NASDAQ:KARO - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.02. Karooooo had a return on equity of 31.48% and a net margin of 20.23%.The company had revenue of $70.49 million for the quarter, compared to analyst estimates of $1.25 billion. Karooooo has set its FY 2026 guidance at 1.760-1.920 EPS. Research analysts anticipate that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.

Karooooo Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a $1.25 dividend. This represents a dividend yield of 220.0%. The ex-dividend date was Friday, August 15th. Karooooo's dividend payout ratio is currently 290.70%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Raymond James Financial restated an "outperform" rating and issued a $60.00 target price (up previously from $58.00) on shares of Karooooo in a report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating and issued a $53.00 price objective (up from $43.00) on shares of Karooooo in a research note on Thursday, June 26th. Wall Street Zen downgraded Karooooo from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Needham & Company LLC began coverage on Karooooo in a research note on Wednesday, July 16th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, Zacks Research raised Karooooo to a "strong-buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat.com, Karooooo has an average rating of "Buy" and a consensus target price of $57.67.

Karooooo 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.