Polen Capital Management LLC Acquires 2,639 Shares of Karooooo Ltd. (NASDAQ:KARO)

Polen Capital Management LLC raised its holdings in shares of Karooooo Ltd. (NASDAQ:KARO) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,273 shares of the company’s stock after acquiring an additional 2,639 shares during the quarter. Polen Capital Management LLC’s holdings in Karooooo were worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in KARO. New York State Common Retirement Fund bought a new stake in Karooooo during the 4th quarter worth approximately $26,000. Quadrature Capital Ltd purchased a new position in Karooooo during the third quarter worth about $216,000. Walleye Capital LLC bought a new position in Karooooo in the 3rd quarter worth about $323,000. Raymond James Financial Inc. purchased a new stake in shares of Karooooo in the 4th quarter valued at about $635,000. Finally, Schwartz Investment Counsel Inc. boosted its position in shares of Karooooo by 17.2% during the 4th 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 last quarter.

Wall Street Analyst Weigh In

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

Karooooo Stock Up 2.9 %

Shares of NASDAQ:KARO opened at $41.58 on Tuesday. The firm has a market capitalization of $1.28 billion, a PE ratio of 26.65 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.24 and a current ratio of 1.25. Karooooo Ltd. has a 52-week low of $23.35 and a 52-week high of $50.54. The firm has a fifty day moving average of $45.64 and a 200 day moving average of $43.10.

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

Karooooo 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.