Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in Karooooo Ltd. (NASDAQ:KARO)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Karooooo Ltd. (NASDAQ:KARO) by 13.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,545 shares of the company’s stock after selling 21,802 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.46% of Karooooo worth $6,391,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capricorn Fund Managers Ltd acquired a new stake in shares of Karooooo during the 4th quarter worth about $6,146,000. New York State Common Retirement Fund acquired a new stake in shares of Karooooo during the fourth quarter valued at about $26,000. Schwartz Investment Counsel Inc. raised its stake in shares of Karooooo by 17.2% in 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 period. Polen Capital Management LLC lifted its holdings in shares of Karooooo by 24.8% in the 4th quarter. Polen Capital Management LLC now owns 13,273 shares of the company’s stock worth $599,000 after acquiring an additional 2,639 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Karooooo by 0.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 236,972 shares of the company’s stock worth $10,699,000 after purchasing an additional 1,387 shares during the period.

Wall Street Analyst Weigh In

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

Karooooo Stock Down 0.9 %

Shares of NASDAQ:KARO opened at $42.66 on Monday. The firm has a market capitalization of $1.32 billion, a PE ratio of 27.35 and a beta of 1.03. Karooooo Ltd. has a 1 year low of $23.35 and a 1 year high of $50.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.25 and a quick ratio of 1.24. The firm’s 50-day moving average is $44.83 and its two-hundred day moving average is $43.44.

Karooooo (NASDAQ:KARO) last announced its earnings results on Tuesday, January 14th. The company reported $0.43 earnings per share 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%. Analysts predict that Karooooo Ltd. will post 1.57 EPS for the current year.

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.