Nexus Investment Management ULC Sells 26,890 Shares of CarMax, Inc. (NYSE:KMX)

Nexus Investment Management ULC cut its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 350,815 shares of the company's stock after selling 26,890 shares during the period. CarMax accounts for 2.9% of Nexus Investment Management ULC's investment portfolio, making the stock its 17th biggest position. Nexus Investment Management ULC owned approximately 0.23% of CarMax worth $28,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its position in 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 acquiring an additional 1,713,379 shares during the last quarter. Vulcan Value Partners LLC lifted its stake in CarMax by 299.7% in the second quarter. Vulcan Value Partners LLC now owns 1,827,139 shares of the company's stock worth $133,773,000 after purchasing an additional 1,369,986 shares during the last quarter. Holocene Advisors LP boosted its position in CarMax by 740.2% during the third quarter. Holocene Advisors LP now owns 946,931 shares of the company's stock valued at $73,274,000 after buying an additional 834,232 shares during the period. Marshall Wace LLP grew its stake in shares of CarMax by 87.6% during the second quarter. Marshall Wace LLP now owns 1,160,601 shares of the company's stock valued at $85,118,000 after buying an additional 541,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of CarMax by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company's stock worth $114,471,000 after buying an additional 436,342 shares during the period.

CarMax Stock Down 0.9 %

KMX stock traded down $0.69 during midday trading on Friday, hitting $78.96. The company's stock had a trading volume of 1,482,993 shares, compared to its average volume of 1,894,977. The company has a market cap of $12.14 billion, a PE ratio of 26.77, a P/E/G ratio of 1.50 and a beta of 1.71. The firm's 50-day moving average is $82.07 and its 200-day moving average is $79.10. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

CarMax (NYSE:KMX - Get Free Report) last issued its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share 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 analyst estimates of $6.05 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. CarMax's revenue was up 1.2% on a year-over-year basis. On average, equities research analysts forecast that CarMax, Inc. will post 3.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO William D. Nash sold 120,513 shares of the business's stock in a transaction on 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 of the company's stock, valued at $15,123,292.92. The trade was a 39.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mohammad Shamim sold 10,000 shares of CarMax stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.77, for a total value of $837,700.00. Following the transaction, the executive vice president now owns 11,738 shares in the company, valued at $983,292.26. This trade represents a 46.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 259,598 shares of company stock worth $21,503,625. 1.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KMX. Evercore ISI increased their target price on CarMax from $83.00 to $85.00 and gave the company a "market perform" rating in a report on Thursday, December 19th. 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. Stephens started coverage on shares of CarMax in a research report on Thursday, December 5th. They set an "equal weight" rating and a $86.00 price target for the company. Needham & Company LLC upped their price objective on shares of CarMax from $90.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada raised their price target on CarMax from $92.00 to $99.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $85.17.

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.