Northern Trust Corp Makes New $340,000 Investment in Karooooo Ltd. (NASDAQ:KARO)

Northern Trust Corp bought a new position in shares of Karooooo Ltd. (NASDAQ:KARO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,538 shares of the company's stock, valued at approximately $340,000.

Several other hedge funds have also made changes to their positions in KARO. Raymond James Financial Inc. acquired a new position in Karooooo during the 4th quarter worth $635,000. Marshall Wace LLP grew its holdings in shares of Karooooo by 32.4% during the fourth quarter. Marshall Wace LLP now owns 39,021 shares of the company's stock valued at $1,762,000 after buying an additional 9,552 shares in the last quarter. Schwartz Investment Counsel Inc. grew its holdings in shares of Karooooo by 17.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company's stock valued at $2,735,000 after buying an additional 8,881 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Karooooo by 1,727.0% during the fourth quarter. JPMorgan Chase & Co. now owns 8,934 shares of the company's stock valued at $403,000 after buying an additional 8,445 shares in the last quarter. Finally, Polen Capital Management LLC grew its holdings in shares of Karooooo by 24.8% during the fourth quarter. Polen Capital Management LLC now owns 13,273 shares of the company's stock valued at $599,000 after buying an additional 2,639 shares in the last quarter.

Analysts Set New Price Targets

Separately, Raymond James lifted their price target on Karooooo from $51.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th.

Karooooo Stock Up 0.6%

KARO traded up $0.33 during trading on Thursday, reaching $57.86. 39,251 shares of the stock traded hands, compared to its average volume of 33,869. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 37.09 and a beta of 1.15. Karooooo Ltd. has a fifty-two week low of $25.80 and a fifty-two week high of $63.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. The stock's 50-day simple moving average is $45.81 and its two-hundred day simple moving average is $45.41.

Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. The firm had revenue of $65.12 million during the quarter, compared to analysts' expectations of $1.18 billion. Karooooo had a return on equity of 30.29% and a net margin of 19.87%. During the same quarter last year, the firm earned $6.81 earnings per share. As a group, equities research analysts expect that Karooooo Ltd. will post 1.57 EPS for the current year.

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.