Capricorn Fund Managers Ltd Has $13.87 Million Stock Position in Karooooo Ltd. $KARO

Capricorn Fund Managers Ltd increased its holdings in shares of Karooooo Ltd. (NASDAQ:KARO) by 16.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 278,346 shares of the company’s stock after buying an additional 40,268 shares during the quarter. Karooooo accounts for approximately 2.2% of Capricorn Fund Managers Ltd’s holdings, making the stock its 15th largest holding. Capricorn Fund Managers Ltd owned 0.90% of Karooooo worth $13,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KARO. Fideuram Asset Management Ireland dac bought a new stake in shares of Karooooo in the fourth quarter worth about $80,000. Royal Bank of Canada increased its stake in Karooooo by 852.9% during the 4th quarter. Royal Bank of Canada now owns 2,954 shares of the company’s stock worth $135,000 after purchasing an additional 2,644 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Karooooo during the 2nd quarter worth approximately $156,000. New York State Common Retirement Fund lifted its stake in Karooooo by 465.6% in 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 in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Karooooo in the second quarter valued at approximately $214,000.

Karooooo Trading Up 0.9%

Shares of NASDAQ:KARO opened at $49.36 on Wednesday. The company’s 50-day moving average price is $48.21 and its two-hundred day moving average price is $47.86. Karooooo Ltd. has a one year low of $41.25 and a one year high of $60.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market capitalization of $1.52 billion, a PE ratio of 26.68 and a beta of 0.89.

Karooooo (NASDAQ:KARO) last released its earnings results on Tuesday, April 14th. The company reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $90.93 million for the quarter. Karooooo had a return on equity of 31.26% and a net margin of 18.07%. On average, equities analysts forecast that Karooooo Ltd. will post 2.37 EPS for the current fiscal year.

Karooooo Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Karooooo from a “buy” rating to a “hold” rating in a report on Sunday, June 21st. Needham & Company LLC reissued a “buy” rating on shares of Karooooo in a research note on Wednesday, June 3rd. UBS Group reduced their price objective on Karooooo from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. Finally, Roth Mkm restated a “buy” rating and issued a $68.00 target price on shares of Karooooo in a research note on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.75.

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.