Charles Schwab Investment Management Inc. Grows Stake in CarMax, Inc. (NYSE:KMX)

Charles Schwab Investment Management Inc. increased its holdings in CarMax, Inc. (NYSE:KMX) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,494,460 shares of the company’s stock after acquiring an additional 15,120 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CarMax were worth $122,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KMX. Principal Financial Group Inc. lifted its holdings in shares of CarMax by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after buying an additional 282,519 shares in the last quarter. State Street Corp increased its holdings in CarMax by 0.6% in the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after acquiring an additional 36,959 shares during the last quarter. Janus Henderson Group PLC lifted its stake in CarMax by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock worth $359,216,000 after purchasing an additional 28,466 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CarMax by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock valued at $282,479,000 after purchasing an additional 14,903 shares during the last quarter. Finally, FMR LLC grew its position 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 in the last quarter.

CarMax Stock Down 0.9 %

Shares of NYSE:KMX opened at $76.75 on Friday. The firm has a market capitalization of $11.80 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The business has a 50 day simple moving average of $82.74 and a two-hundred day simple moving average of $80.36. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. 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 company posted $0.52 EPS. CarMax’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial boosted their target price on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Mizuho upped their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada raised their target price on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Evercore ISI raised shares of CarMax from an “in-line” rating to an “outperform” rating and upped their price target for the company from $90.00 to $110.00 in a research note on Thursday, February 6th. Finally, Stephens began coverage on shares of CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.91.

Insider Buying and Selling

In other news, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares of the company’s stock, valued at approximately $765,288. This represents a 57.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Tyler Tuite sold 4,869 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now owns 227 shares in the company, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,467 shares of company stock valued at $21,915,445 in the last 90 days. Company 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.