Karooooo (NASDAQ:KARO) CEO Isaias Jose Calisto Sells 25,913 Shares of Stock

Key Points

• CEO Isaias Jose Calisto sold 25,913 Karooooo shares for approximately $1.64 million at an average price of $63.44, reducing his ownership by 0.14%. He also sold an additional 22,036 shares the following day for about $1.41 million.
• Karooooo reported quarterly EPS of $0.59, exceeding analysts’ $0.51 estimate, on revenue of $96.26 million. The company also raised its annual dividend to $1.50 per share from $1.25.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $73.50 price target, while institutional investors including JPMorgan and Geode Capital increased their holdings.

Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 25,913 shares of the business's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $63.44, for a total value of $1,643,920.72. Following the completion of the sale, the chief executive officer directly owned 17,892,045 shares in the company, valued at approximately $1,135,071,334.80. This represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value of $1,414,490.84.

Karooooo Stock Up 0.0%

Karooooo stock traded up $0.02 during mid-day trading on Wednesday, hitting $63.98. The company had a trading volume of 20,216 shares, compared to its average volume of 79,341. Karooooo Ltd. has a 12 month low of $41.25 and a 12 month high of $66.19. The company has a market capitalization of $1.98 billion, a PE ratio of 32.30 and a beta of 0.89. The stock's 50 day moving average price is $52.41 and its two-hundred day moving average price is $49.70. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15.

Karooooo (NASDAQ:KARO - Get Free Report) last announced its quarterly earnings results 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. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The company had revenue of $96.26 million for the quarter. As a group, sell-side analysts anticipate that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.

Karooooo Increases Dividend

The business also recently announced an annual dividend, which was paid on Monday, July 27th. Investors of record on Friday, July 17th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, July 17th. This is a positive change from Karooooo's previous annual dividend of $1.25. This represents a yield of 239.0%. Karooooo's dividend payout ratio is 76.14%.

Institutional Investors Weigh In On Karooooo

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KARO. Geode Capital Management LLC increased its position in shares of Karooooo by 56.6% during the 2nd quarter. Geode Capital Management LLC now owns 29,892 shares of the company's stock valued at $1,464,000 after purchasing an additional 10,799 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Karooooo by 216.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 8,089 shares of the company's stock valued at $396,000 after purchasing an additional 5,529 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Karooooo in the second quarter worth about $1,378,000. New York State Common Retirement Fund boosted its position in shares of Karooooo by 465.6% during the second quarter. New York State Common Retirement Fund now owns 3,258 shares of the company's stock valued at $160,000 after buying an additional 2,682 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Karooooo during the second quarter valued at approximately $156,000.

Wall Street Analysts Forecast Growth

KARO has been the topic of several research reports. Wall Street Zen cut Karooooo from a "buy" rating to a "hold" rating in a report on Sunday, June 21st. Needham & Company LLC increased their price target on Karooooo from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Raymond James Financial lifted their price objective on Karooooo from $60.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Roth Capital reiterated a "buy" rating and set a $74.00 target price on shares of Karooooo in a research report on Friday, July 17th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Karooooo in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Karooooo has a consensus 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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