Claro Advisors LLC Takes Position in CarMax, Inc. (NYSE:KMX)

Claro Advisors LLC acquired a new position in shares of CarMax, Inc. (NYSE:KMX) in the fourth quarter, Holdings Channel.com reports. The firm acquired 2,637 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC increased its stake 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 worth $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Vulcan Value Partners LLC increased its stake in CarMax by 299.7% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company’s stock worth $133,773,000 after buying an additional 1,369,986 shares in the last quarter. Holocene Advisors LP raised its holdings in shares of 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 acquiring an additional 834,232 shares during the last quarter. Marshall Wace LLP lifted its position in shares of CarMax by 87.6% in the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company’s stock valued at $85,118,000 after acquiring an additional 541,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of CarMax by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after acquiring an additional 436,342 shares during the last quarter.

CarMax Price Performance

KMX stock opened at $80.29 on Thursday. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The business has a fifty day moving average of $81.87 and a two-hundred day moving average of $78.99. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 1.74 and a beta of 1.71. 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 (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 6.83% and a net margin of 1.61%. The firm had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same period last year, the company earned $0.52 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that CarMax, Inc. will post 3.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KMX. BNP Paribas upgraded CarMax to a “strong sell” rating in a report on Friday, September 27th. Truist Financial raised their price target on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research note on Friday, October 4th. Royal Bank of Canada raised their target price on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, Stephens started coverage on CarMax in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.17.

Insider Activity

In other news, EVP Mohammad Shamim sold 10,000 shares of the firm’s stock in a transaction on 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 trade represents a 46.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William D. Nash sold 120,513 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total value of $10,031,502.12. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at $15,123,292.92. This represents a 39.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,589 shares of company stock valued at $20,042,746. Company insiders own 1.66% of the company’s stock.

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.