Private Advisor Group LLC Cuts Stake in CarMax, Inc. (NYSE:KMX)

Private Advisor Group LLC cut its holdings in shares of CarMax, Inc. (NYSE:KMX) by 19.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,288 shares of the company’s stock after selling 3,466 shares during the quarter. Private Advisor Group LLC’s holdings in CarMax were worth $1,168,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Timber Creek Capital Management LLC grew its holdings in shares of CarMax by 0.3% during the 4th quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company’s stock valued at $4,709,000 after purchasing an additional 145 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of CarMax by 71.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,909 shares of the company’s stock valued at $647,000 after buying an additional 3,288 shares during the last quarter. Empower Advisory Group LLC increased its holdings in shares of CarMax by 8.4% in the fourth quarter. Empower Advisory Group LLC now owns 4,278 shares of the company’s stock worth $350,000 after buying an additional 331 shares during the period. CIBC Asset Management Inc lifted its stake in shares of CarMax by 4.2% in the 4th quarter. CIBC Asset Management Inc now owns 23,808 shares of the company’s stock valued at $1,947,000 after acquiring an additional 968 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in CarMax by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after acquiring an additional 282,519 shares during the period.

Insider Buying and Selling

In related news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the transaction, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,649,771.80. This trade represents a 19.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Nash sold 120,513 shares of CarMax 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 transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $15,123,292.92. The trade was a 39.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock worth $21,915,445 in the last three months. 1.66% of the stock is owned by corporate insiders.

CarMax Stock Down 0.7 %

Shares of NYSE:KMX opened at $81.92 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The firm has a market capitalization of $12.60 billion, a P/E ratio of 27.77, a P/E/G ratio of 1.67 and a beta of 1.72. The stock has a 50 day moving average price of $83.30 and a 200-day moving average price of $80.28.

CarMax (NYSE:KMX) last posted 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 7.49% and a net margin of 1.77%. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stephens initiated coverage on CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Needham & Company LLC upped their price target on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, February 3rd. 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 report on Friday, December 20th. Finally, Royal Bank of Canada upped their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $87.50.

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.