Polen Capital Management LLC Grows Stock Position in Karooooo Ltd. (NASDAQ:KARO)

Polen Capital Management LLC boosted its stake in shares of Karooooo Ltd. (NASDAQ:KARO) by 24.8% in the 4th quarter, HoldingsChannel reports. The fund owned 13,273 shares of the company’s stock after buying an additional 2,639 shares during the quarter. Polen Capital Management LLC’s holdings in Karooooo were worth $599,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. New York State Common Retirement Fund purchased a new stake in shares of Karooooo during the fourth quarter valued at approximately $26,000. Quadrature Capital Ltd bought a new stake in Karooooo during the 3rd quarter valued at $216,000. Walleye Capital LLC bought a new stake in Karooooo during the 3rd quarter valued at $323,000. Raymond James Financial Inc. bought a new stake in Karooooo in the 4th quarter worth $635,000. Finally, Schwartz Investment Counsel Inc. increased its position in shares of Karooooo by 17.2% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 60,566 shares of the company’s stock valued at $2,735,000 after acquiring an additional 8,881 shares during the period.

Karooooo Price Performance

KARO opened at $41.58 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. The stock has a market capitalization of $1.28 billion, a PE ratio of 26.65 and a beta of 1.03. The stock’s 50 day moving average price is $45.64 and its 200-day moving average price is $43.10. Karooooo Ltd. has a 52-week low of $23.35 and a 52-week high of $50.54.

Karooooo (NASDAQ:KARO) last issued its quarterly earnings data on Tuesday, January 14th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Karooooo had a net margin of 19.87% and a return on equity of 30.29%. On average, equities research analysts predict that Karooooo Ltd. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Separately, Raymond James reiterated an “outperform” rating and set a $51.00 target price (up from $46.00) on shares of Karooooo in a report on Thursday, January 16th.

Karooooo Company Profile

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.