Isaias Jose Calisto Sells 20,417 Shares of Karooooo (NASDAQ:KARO) Stock

Key Points

• CEO Isaias Jose Calisto sold 20,417 Karooooo shares for approximately $1.32 million at an average price of $64.51, reducing his direct ownership by 0.11%. He also sold shares on each of the five preceding trading days.
• Karooooo recently reported quarterly EPS of $0.59, exceeding analysts’ $0.51 estimate, on revenue of $96.26 million. The stock opened at $64.55, near its 52-week high of $66.23.
• Analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $73.50; the company also increased its annual dividend to $1.50 from $1.25.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 20,417 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $64.51, for a total value of $1,317,100.67. Following the completion of the sale, the chief executive officer directly owned 17,773,613 shares of the company's stock, valued at $1,146,575,774.63. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Isaias Jose Calisto also recently made the following trade(s):

• On Friday, July 31st, Isaias Jose Calisto sold 25,452 shares of Karooooo stock. The shares were sold at an average price of $64.65, for a total value of $1,645,471.80.
• On Thursday, July 30th, Isaias Jose Calisto sold 18,630 shares of Karooooo stock. The stock was sold at an average price of $63.47, for a total transaction of $1,182,446.10.
• On Wednesday, July 29th, Isaias Jose Calisto sold 31,897 shares of Karooooo stock. The stock was sold at an average price of $64.43, for a total transaction of $2,055,123.71.
• On Tuesday, July 28th, Isaias Jose Calisto sold 22,036 shares of Karooooo stock. The shares were sold at an average price of $64.19, for a total transaction of $1,414,490.84.
• On Monday, July 27th, Isaias Jose Calisto sold 25,913 shares of Karooooo stock. The shares were sold at an average price of $63.44, for a total transaction of $1,643,920.72.

Karooooo Stock Up 0.5%

KARO opened at $64.55 on Tuesday. Karooooo Ltd. has a fifty-two week low of $41.25 and a fifty-two week high of $66.23. The firm has a market capitalization of $1.99 billion, a P/E ratio of 32.77 and a beta of 0.85. The company's 50-day moving average is $53.78 and its 200 day moving average is $50.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.01.

Karooooo (NASDAQ:KARO - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.08. The business had revenue of $96.26 million during the quarter. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. Research analysts expect that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Karooooo Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, July 27th. Stockholders of record on Friday, July 17th were paid a $1.50 dividend. This represents a dividend yield of 239.0%. The ex-dividend date was Friday, July 17th. This is a boost from Karooooo's previous annual dividend of $1.25. Karooooo's dividend payout ratio (DPR) is presently 76.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capricorn Fund Managers Ltd grew its stake in Karooooo by 39.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company's stock valued at $10,833,000 after buying an additional 67,322 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Karooooo by 238.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 17,917 shares of the company's stock valued at $1,023,000 after acquiring an additional 12,621 shares during the period. Aurora Investment Counsel purchased a new stake in shares of Karooooo during the fourth quarter worth $1,651,000. Bullseye Asset Management LLC lifted its position in shares of Karooooo by 101.7% during the fourth quarter. Bullseye Asset Management LLC now owns 32,129 shares of the company's stock worth $1,461,000 after acquiring an additional 16,200 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its holdings in shares of Karooooo by 22.9% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company's stock worth $3,566,000 after acquiring an additional 14,600 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KARO shares. Needham & Company LLC lifted their price target on Karooooo from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings restated a "buy (b-)" rating on shares of Karooooo in a research note on Friday, April 24th. Roth Capital reiterated a "buy" rating and set a $74.00 target price on shares of Karooooo in a research note on Friday, July 17th. Zacks Research upgraded shares of Karooooo from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Finally, Raymond James Financial increased their price target on shares of Karooooo from $60.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Karooooo has an average rating of "Buy" and a consensus price target of $73.50.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo's SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.

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