Karooooo Ltd. (NASDAQ:KARO) Stock Position Lifted by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its stake in Karooooo Ltd. (NASDAQ:KARO) by 50.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,096 shares of the company’s stock after buying an additional 1,377 shares during the quarter. Acadian Asset Management LLC’s holdings in Karooooo were worth $116,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of KARO. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of Karooooo by 1.2% during the 2nd quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock valued at $5,138,000 after buying an additional 2,000 shares during the last quarter. Swedbank AB grew its position in Karooooo by 26.0% in the second quarter. Swedbank AB now owns 120,000 shares of the company’s stock worth $3,516,000 after acquiring an additional 24,746 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of Karooooo by 2.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock valued at $4,972,000 after purchasing an additional 5,002 shares in the last quarter.

Karooooo Stock Down 0.9 %

Shares of Karooooo stock opened at $40.02 on Friday. Karooooo Ltd. has a 12-month low of $18.59 and a 12-month high of $43.79. The stock has a market capitalization of $855.63 million, a P/E ratio of 31.51 and a beta of 1.01. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $36.51 and a two-hundred day moving average price of $31.26.

Karooooo (NASDAQ:KARO) last posted its earnings results on Thursday, July 18th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $58.29 million for the quarter, compared to analyst estimates of $58.54 million. Karooooo had a net margin of 18.70% and a return on equity of 27.88%. Equities analysts expect that Karooooo Ltd. will post 1.48 earnings per share for the current year.

Karooooo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were paid a dividend of $1.08 per share. This is an increase from Karooooo’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $4.32 annualized dividend and a yield of 10.79%. Karooooo’s dividend payout ratio is presently 340.16%.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their price objective on shares of Karooooo from $31.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th.

About Karooooo

Karooooo Ltd. provides mobility software-as-a-service (SaaS) platform for connected vehicles in South Africa, rest of Africa, Europe, the Asia-Pacific, the Middle East, and the United States. The company offers Fleet Telematics, a fleet management SaaS platform that provides real-time insights; LiveVision, which offers pro-active risk management and fleet visibility; MiFleet advanced fleet administration and business intelligence that provides cost management and administration capability services; and Karooooo Logistics, a software application for management of last mile delivery and general operational logistics.