Schwarz Dygos Wheeler Investment Advisors LLC lessened its position in Karooooo Ltd. (NASDAQ:KARO - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 120,039 shares of the company's stock after selling 37,876 shares during the quarter. Karooooo makes up about 1.2% of Schwarz Dygos Wheeler Investment Advisors LLC's holdings, making the stock its 17th biggest holding. Schwarz Dygos Wheeler Investment Advisors LLC owned 0.39% of Karooooo worth $5,106,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Karooooo in the 4th quarter worth approximately $635,000. Polen Capital Management LLC lifted its position in Karooooo by 24.8% in the 4th quarter. Polen Capital Management LLC now owns 13,273 shares of the company's stock worth $599,000 after buying an additional 2,639 shares in the last quarter. JPMorgan Chase & Co. lifted its position in 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 buying an additional 8,445 shares in the last quarter. Marshall Wace LLP lifted its position in Karooooo by 32.4% in the 4th quarter. Marshall Wace LLP now owns 39,021 shares of the company's stock worth $1,762,000 after buying an additional 9,552 shares in the last quarter. Finally, Northern Trust Corp purchased a new stake in Karooooo in the 4th quarter worth approximately $340,000.
Karooooo Stock Up 1.0%
Shares of Karooooo stock traded up $0.52 during midday trading on Wednesday, reaching $50.06. 30,046 shares of the company's stock traded hands, compared to its average volume of 43,478. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 30.52 and a beta of 1.08. The company's 50 day simple moving average is $51.07 and its 200 day simple moving average is $46.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.14. Karooooo Ltd. has a 52 week low of $28.04 and a 52 week high of $63.36.
Karooooo (NASDAQ:KARO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.07. The business had revenue of $65.12 million for the quarter, compared to the consensus estimate of $1.18 billion. Karooooo had a net margin of 20.17% and a return on equity of 30.98%. During the same quarter last year, the firm earned $6.81 EPS. Equities analysts expect that Karooooo Ltd. will post 1.57 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
KARO has been the subject of a number of research analyst reports. Needham & Company LLC initiated coverage on shares of Karooooo in a research report on Wednesday. They issued a "buy" rating and a $60.00 target price for the company. Morgan Stanley restated an "overweight" rating and set a $53.00 price target (up previously from $43.00) on shares of Karooooo in a report on Thursday, June 26th. Finally, Raymond James Financial raised their price target on shares of Karooooo from $51.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th.
Get Our Latest Research Report on KARO
Karooooo Profile
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Free Report)
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.
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