Karooooo Ltd. $KARO Holdings Lifted by Bullseye Asset Management LLC

Bullseye Asset Management LLC grew its position in Karooooo Ltd. (NASDAQ:KARO) by 101.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,129 shares of the company’s stock after purchasing an additional 16,200 shares during the period. Bullseye Asset Management LLC owned approximately 0.10% of Karooooo worth $1,461,000 as of its most recent SEC filing.

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

Karooooo Trading Up 3.8%

Karooooo stock opened at $47.27 on Friday. The company has a 50 day moving average price of $48.82 and a 200 day moving average price of $47.64. Karooooo Ltd. has a 52 week low of $41.25 and a 52 week high of $60.53. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.55 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $0.45 EPS for the quarter. Karooooo had a net margin of 18.07% and a return on equity of 31.26%. The firm had revenue of $90.93 million during the quarter. Research analysts forecast that Karooooo Ltd. will post 2.37 EPS for the current year.

Karooooo Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, July 27th. Shareholders of record on Friday, July 17th will be given a $1.50 dividend. This represents a yield of 347.0%. The ex-dividend date is Friday, July 17th. This is a positive change from Karooooo’s previous annual dividend of $1.25. Karooooo’s payout ratio is currently 67.57%.

Wall Street Analyst Weigh In

KARO has been the topic of several recent analyst reports. Wall Street Zen raised Karooooo from a “hold” rating to a “buy” rating in a report on Saturday. Needham & Company LLC reissued a “buy” rating on shares of Karooooo in a report on Wednesday, June 3rd. UBS Group dropped their target price on Karooooo from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Finally, Roth Mkm reissued a “buy” rating and set a $68.00 target price on shares of Karooooo in a report on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Karooooo presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.20.

Karooooo Company Profile

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.