Karooooo (NASDAQ:KARO) Sees Unusually-High Trading Volume

Karooooo Ltd. (NASDAQ:KARO) shares saw an uptick in trading volume on Monday . 8,237 shares were traded during trading, a decline of 43% from the previous session’s volume of 14,425 shares.The stock last traded at $37.78 and had previously closed at $38.11.

Analysts Set New Price Targets

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

Karooooo Stock Up 0.5 %

The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $35.73 and its 200-day moving average is $30.82. The company has a market cap of $819.07 million, a price-to-earnings ratio of 30.17 and a beta of 1.01.

Karooooo (NASDAQ:KARO) last announced its quarterly earnings results on Thursday, July 18th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. The business had revenue of $58.29 million during 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%. On average, analysts anticipate that Karooooo Ltd. will post 1.48 earnings per share for the current fiscal year.

Karooooo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 11.28%. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from Karooooo’s previous quarterly dividend of $0.85. Karooooo’s payout ratio is 340.16%.

Institutional Trading of Karooooo

Several institutional investors have recently made changes to their positions in KARO. Jupiter Asset Management Ltd. grew its stake in shares of Karooooo by 2.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 198,392 shares of the company’s stock worth $4,972,000 after acquiring an additional 5,002 shares in the last quarter. Acadian Asset Management LLC bought a new position in Karooooo during the first quarter valued at about $67,000. Swedbank AB purchased a new stake in Karooooo during the first quarter valued at about $2,387,000. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in Karooooo by 1.2% during the second quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 175,349 shares of the company’s stock valued at $5,138,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Karooooo by 23.3% during the second quarter. Renaissance Technologies LLC now owns 17,757 shares of the company’s stock valued at $520,000 after purchasing an additional 3,356 shares during the last quarter.

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.