Principal Financial Group Inc. Purchases 282,519 Shares of CarMax, Inc. (NYSE:KMX)

Principal Financial Group Inc. boosted its stake in CarMax, Inc. (NYSE:KMX) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,591,297 shares of the company’s stock after acquiring an additional 282,519 shares during the period. Principal Financial Group Inc. owned 5.59% of CarMax worth $702,425,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Americana Partners LLC acquired a new position in CarMax in the fourth quarter valued at approximately $283,000. Capital Performance Advisors LLP lifted its stake in CarMax by 124.3% in the fourth quarter. Capital Performance Advisors LLP now owns 2,894 shares of the company’s stock valued at $237,000 after buying an additional 1,604 shares during the period. Keystone Financial Services lifted its stake in CarMax by 1.7% during the 4th quarter. Keystone Financial Services now owns 12,097 shares of the company’s stock valued at $989,000 after acquiring an additional 206 shares in the last quarter. Copperleaf Capital LLC increased its position in shares of CarMax by 33.4% during the 4th quarter. Copperleaf Capital LLC now owns 15,603 shares of the company’s stock valued at $1,276,000 after purchasing an additional 3,908 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after acquiring an additional 249 shares during the last quarter.

CarMax Price Performance

Shares of KMX stock opened at $88.91 on Monday. CarMax, Inc. has a 52-week low of $65.83 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The firm has a market capitalization of $13.67 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.70 and a beta of 1.72. The stock has a 50 day moving average price of $83.38 and a 200 day moving average price of $79.80.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping 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% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. As a group, sell-side analysts predict that CarMax, Inc. will post 3.22 earnings per share for the current year.

Insider Activity

In other news, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the transaction, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William D. Nash sold 120,513 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. This trade 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 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on KMX. Truist Financial lifted their price objective on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their target price on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Evercore ISI upgraded CarMax from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $90.00 to $110.00 in a research note on Thursday, February 6th. Mizuho raised their target price on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada lifted their price target on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Three equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.50.

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.