Confluence Investment Management LLC Acquires Shares of 146,324 CarMax, Inc. (NYSE:KMX)

Confluence Investment Management LLC acquired a new stake in CarMax, Inc. (NYSE:KMX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 146,324 shares of the company’s stock, valued at approximately $12,746,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in CarMax by 153.3% in the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of CarMax by 1,081.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock worth $34,000 after acquiring an additional 400 shares during the last quarter. Mendota Financial Group LLC purchased a new stake in shares of CarMax during the fourth quarter worth about $37,000. MCF Advisors LLC purchased a new stake in shares of CarMax during the fourth quarter worth about $46,000. Finally, Lindbrook Capital LLC increased its position in shares of CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after acquiring an additional 155 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho dropped their target price on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday. Truist Financial lowered their price objective on CarMax from $72.00 to $66.00 and set a “hold” rating for the company in a report on Tuesday. Needham & Company LLC decreased their price objective on shares of CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 12th. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of CarMax in a report on Tuesday. Finally, Robert W. Baird lowered their target price on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, CarMax presently has a consensus rating of “Hold” and a consensus target price of $76.17.

CarMax Stock Performance

NYSE:KMX opened at $71.49 on Wednesday. CarMax, Inc. has a twelve month low of $59.66 and a twelve month high of $88.22. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.69. The company has a 50-day moving average of $70.65 and a 200-day moving average of $73.74. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. Analysts forecast that CarMax, Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.66% of the company’s stock.

CarMax Company Profile

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.