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

Bullseye Asset Management LLC boosted its stake in Karooooo Ltd. (NASDAQ:KARO) by 101.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,129 shares of the company’s stock after buying an additional 16,200 shares during the quarter. Bullseye Asset Management LLC’s holdings in Karooooo were worth $1,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd lifted its position in Karooooo by 39.4% in the 4th quarter. Capricorn Fund Managers Ltd now owns 238,078 shares of the company’s stock worth $10,833,000 after buying an additional 67,322 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its position in Karooooo by 22.9% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 78,365 shares of the company’s stock worth $3,566,000 after buying an additional 14,600 shares in the last quarter. Two Sigma Investments LP lifted its position in Karooooo by 115.4% in the 3rd quarter. Two Sigma Investments LP now owns 74,130 shares of the company’s stock worth $4,234,000 after buying an additional 39,709 shares in the last quarter. Marshall Wace LLP lifted its position in Karooooo by 699.1% in the 2nd quarter. Marshall Wace LLP now owns 55,602 shares of the company’s stock worth $2,723,000 after buying an additional 48,644 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Karooooo by 43.1% during the 4th quarter. First Trust Advisors LP now owns 46,767 shares of the company’s stock valued at $2,128,000 after purchasing an additional 14,078 shares in the last quarter.

Karooooo Stock Performance

NASDAQ KARO opened at $47.27 on Friday. 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 firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 25.55 and a beta of 0.89. The company’s fifty day moving average is $48.82 and its two-hundred day moving average is $47.64. Karooooo Ltd. has a 52-week low of $41.25 and a 52-week high of $60.53.

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

Karooooo Increases Dividend

The business 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 $1.50 dividend. The ex-dividend date is Friday, July 17th. This represents a yield of 347.0%. This is a positive change from Karooooo’s previous annual dividend of $1.25. Karooooo’s dividend payout ratio (DPR) is 67.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on KARO shares. Weiss Ratings restated a “buy (b-)” rating on shares of Karooooo in a report on Friday, April 24th. UBS Group cut their price target on shares of Karooooo from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Roth Mkm restated a “buy” rating and set a $68.00 price target on shares of Karooooo in a report on Thursday, May 14th. Wall Street Zen upgraded shares of Karooooo from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Needham & Company LLC restated a “buy” rating on shares of Karooooo in a report on Wednesday, June 3rd. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Karooooo currently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

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.