Nordea Investment Management AB Raises Position in CarMax, Inc. (NYSE:KMX)

Nordea Investment Management AB increased its stake in shares of CarMax, Inc. (NYSE:KMX) by 8.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,564 shares of the company’s stock after purchasing an additional 1,186 shares during the period. Nordea Investment Management AB’s holdings in CarMax were worth $1,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in KMX. FMR LLC raised its holdings in shares of CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after purchasing an additional 1,713,379 shares during the last quarter. Vulcan Value Partners LLC grew its position in CarMax by 299.7% during the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock valued at $133,773,000 after buying an additional 1,369,986 shares during the period. Holocene Advisors LP grew its position in CarMax by 740.2% during the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after buying an additional 834,232 shares during the period. Marshall Wace LLP grew its position in CarMax by 87.6% during the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after buying an additional 541,967 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock valued at $114,471,000 after buying an additional 436,342 shares during the period.

Wall Street Analysts Forecast Growth

KMX has been the subject of several recent research reports. Wedbush restated an “outperform” rating and set a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. upped their price target on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research report on Friday, October 4th. Finally, Evercore ISI upped their price target on shares of CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, CarMax currently has an average rating of “Hold” and a consensus target price of $85.17.

Insider Activity

In other news, SVP Jon G. Daniels sold 30,245 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $84.34, for a total value of $2,550,863.30. Following the sale, the senior vice president now owns 995 shares of the company’s stock, valued at approximately $83,918.30. This represents a 96.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mohammad Shamim sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $83.77, for a total transaction of $837,700.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares in the company, valued at $983,292.26. This represents a 46.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,589 shares of company stock valued at $20,042,746. 1.66% of the stock is currently owned by company insiders.

CarMax Price Performance

CarMax stock opened at $78.46 on Monday. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.74 and a beta of 1.71. The firm’s fifty day moving average is $81.65 and its 200 day moving average is $78.91. The company has a quick ratio of 0.68, a current ratio of 2.25 and a debt-to-equity ratio of 2.93. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25.

CarMax (NYSE:KMX) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.61% and a return on equity of 6.83%. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. CarMax’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that CarMax, Inc. will post 3.01 EPS for the current fiscal year.

CarMax 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.