Intech Investment Management LLC Boosts Stake in CarMax, Inc. (NYSE:KMX)

Intech Investment Management LLC grew its position in shares of CarMax, Inc. (NYSE:KMX) by 246.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,836 shares of the company’s stock after acquiring an additional 8,418 shares during the period. Intech Investment Management LLC’s holdings in CarMax were worth $968,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of CarMax by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after acquiring an additional 282,519 shares during the period. State Street Corp grew its holdings in shares of CarMax by 0.6% during the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after acquiring an additional 36,959 shares during the period. Janus Henderson Group PLC grew its holdings in shares of CarMax by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock worth $359,216,000 after acquiring an additional 28,466 shares during the period. Geode Capital Management LLC grew 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 worth $282,479,000 after acquiring an additional 14,903 shares during the period. Finally, First Pacific Advisors LP grew its holdings in shares of CarMax by 0.6% during the 4th quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company’s stock worth $195,984,000 after acquiring an additional 13,487 shares during the period.

Insider Activity at CarMax

In other news, CEO William D. Nash sold 120,513 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was 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 directly owns 181,683 shares in the company, valued at $15,123,292.92. The trade was a 39.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jon G. Daniels sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $85.30, for a total value of $853,000.00. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at $84,873.50. The trade was a 90.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,467 shares of company stock worth $21,915,445. Corporate insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC upped their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Truist Financial upped their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. upped their price target on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Stephens assumed 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. Finally, StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.45.

CarMax Stock Performance

Shares of KMX opened at $71.29 on Friday. 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, Inc. has a one year low of $65.83 and a one year high of $91.25. The firm has a market capitalization of $10.96 billion, a P/E ratio of 24.17, a PEG ratio of 1.67 and a beta of 1.76. The business has a fifty day moving average of $80.87 and a 200 day moving average of $79.47.

CarMax (NYSE:KMX) last released its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.19. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. CarMax’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, sell-side analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

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.