Key Points
- Karooooo CEO Isaias Jose Calisto sold 22,036 shares at an average price of $64.19, generating approximately $1.41 million. The transaction reduced his ownership by 0.12%, leaving him with about 17.87 million shares.
- Karooooo recently reported quarterly earnings of $0.59 per share, beating analyst estimates of $0.51, on revenue of $96.26 million. The stock opened at $64.46 and has a consensus analyst rating of “Buy,” with an average price target of $73.50.
- The company increased its annual dividend to $1.50 per share, up from $1.25, with a reported dividend yield of 239.0% and a payout ratio of 76.14%.
Karooooo Ltd. (NASDAQ:KARO - Get Free Report) CEO Isaias Jose Calisto sold 22,036 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $64.19, for a total value of $1,414,490.84. Following the completion of the sale, the chief executive officer owned 17,870,009 shares in the company, valued at $1,147,075,877.71. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Isaias Jose Calisto also recently made the following trade(s):
- On Monday, July 27th, Isaias Jose Calisto sold 25,913 shares of Karooooo stock. The stock was sold at an average price of $63.44, for a total value of $1,643,920.72.
Karooooo Stock Up 0.8%
Shares of NASDAQ KARO opened at $64.46 on Thursday. Karooooo Ltd. has a 52-week low of $41.25 and a 52-week high of $66.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.02. The business has a fifty day moving average of $52.75 and a two-hundred day moving average of $49.84. The stock has a market cap of $1.99 billion, a PE ratio of 32.72 and a beta of 0.89.
Karooooo (NASDAQ:KARO - Get Free Report) last posted its earnings results on Thursday, July 16th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.08. Karooooo had a net margin of 17.74% and a return on equity of 32.03%. The business had revenue of $96.26 million for the quarter. As a group, equities research analysts expect that Karooooo Ltd. will post 2.41 earnings per share for the current fiscal year.
Karooooo Increases Dividend
The company also recently disclosed an annual dividend, which was paid on Monday, July 27th. Stockholders of record on Friday, July 17th were issued 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 dividend yield of 239.0%. Karooooo's dividend payout ratio (DPR) is 76.14%.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Karooooo in a report on Friday, April 24th. Wall Street Zen downgraded Karooooo from a "buy" rating to a "hold" rating in a research report on Sunday, June 21st. Roth Capital reissued a "buy" rating and issued a $74.00 price objective on shares of Karooooo in a research note on Friday, July 17th. UBS Group restated a "buy" rating and set a $75.00 target price on shares of Karooooo in a report on Thursday, July 16th. Finally, Freedom Capital lowered Karooooo from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Karooooo currently has a consensus rating of "Buy" and an average price target of $73.50.
Check Out Our Latest Analysis on KARO
Hedge Funds Weigh In On Karooooo
Large investors have recently modified their holdings of the stock. DGS Capital Management LLC grew its stake in shares of Karooooo by 5.7% during the first quarter. DGS Capital Management LLC now owns 7,359 shares of the company's stock valued at $367,000 after purchasing an additional 398 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Karooooo by 1.4% during the 1st quarter. Renaissance Technologies LLC now owns 27,987 shares of the company's stock worth $1,395,000 after buying an additional 400 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Karooooo by 7.5% during the 3rd quarter. Lazard Asset Management LLC now owns 6,139 shares of the company's stock worth $351,000 after buying an additional 430 shares in the last quarter. Bank of America Corp DE boosted its position in Karooooo by 17.2% in the 2nd quarter. Bank of America Corp DE now owns 5,100 shares of the company's stock valued at $250,000 after buying an additional 750 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Karooooo by 22.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,195 shares of the company's stock valued at $354,000 after buying an additional 1,150 shares during the last quarter.
About Karooooo
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
