Aurora Investment Counsel Takes Position in Karooooo Ltd. $KARO

Aurora Investment Counsel bought a new stake in Karooooo Ltd. (NASDAQ:KARO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 36,283 shares of the company’s stock, valued at approximately $1,651,000.

A number of other hedge funds have also made changes to their positions in the business. Capricorn Fund Managers Ltd increased its stake in Karooooo by 39.4% during 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 during the period. Tudor Investment Corp ET AL increased its stake in Karooooo by 238.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 17,917 shares of the company’s stock worth $1,023,000 after buying an additional 12,621 shares during the period. Schwartz Investment Counsel Inc. increased its stake in Karooooo by 22.9% during 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 during the period. Bullseye Asset Management LLC increased its stake in Karooooo by 101.7% during the 4th quarter. Bullseye Asset Management LLC now owns 32,129 shares of the company’s stock worth $1,461,000 after buying an additional 16,200 shares during the period. Finally, Murphy & Mullick Capital Management Corp increased its stake in Karooooo by 260.0% during the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 900 shares of the company’s stock worth $51,000 after buying an additional 650 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KARO shares. UBS Group dropped their price target on shares of Karooooo from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Wall Street Zen raised shares of Karooooo from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Karooooo in a research note on Friday, April 24th. Roth Mkm reaffirmed a “buy” rating and set a $68.00 price target on shares of Karooooo in a research note on Thursday, May 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Karooooo in a research note on Wednesday, June 3rd. Six 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 data from MarketBeat.com, Karooooo has an average rating of “Moderate Buy” and an average target price of $59.20.

Karooooo Price Performance

KARO opened at $47.27 on Friday. The company has a 50-day moving average of $48.82 and a 200-day moving average of $47.64. The company has a market capitalization of $1.46 billion, a P/E ratio of 25.55 and a beta of 0.89. Karooooo Ltd. has a 1-year low of $41.25 and a 1-year 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.

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

Karooooo Increases Dividend

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

Karooooo 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.