Truist Financial Corp Decreases Stock Holdings in CarMax, Inc. (NYSE:KMX)

Truist Financial Corp decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,958 shares of the company’s stock after selling 9,487 shares during the quarter. Truist Financial Corp’s holdings in CarMax were worth $6,047,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. First Hawaiian Bank purchased a new stake in shares of CarMax in the fourth quarter valued at $273,000. World Investment Advisors LLC purchased a new stake in shares of CarMax in the third quarter valued at $6,942,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of CarMax by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after acquiring an additional 10,898 shares during the period. HF Advisory Group LLC raised its stake in shares of CarMax by 12.6% in the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock valued at $2,354,000 after acquiring an additional 3,222 shares during the period. Finally, Merit Financial Group LLC purchased a new stake in shares of CarMax in the fourth quarter valued at $600,000.

Insiders Place Their Bets

In other news, VP Jill A. Livesay sold 13,009 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares in the company, valued at approximately $765,288. This trade represents a 57.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,467 shares of company stock worth $21,915,445 in the last three months. Corporate insiders own 1.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KMX. Royal Bank of Canada increased their target price 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. Needham & Company LLC increased their target price on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Truist Financial upped 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, Evercore ISI upgraded shares of CarMax from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $90.00 to $110.00 in a report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.50.

CarMax Stock Down 3.5 %

Shares of CarMax stock opened at $82.62 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 1 year low of $65.83 and a 1 year high of $91.25. The firm’s 50-day moving average is $83.39 and its two-hundred day moving average is $80.11. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.67 and a beta of 1.72.

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

About CarMax

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.