Principal Financial Group Inc. Sells 76,182 Shares of CarMax, Inc. (NYSE:KMX)

Principal Financial Group Inc. lessened its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,308,778 shares of the company's stock after selling 76,182 shares during the quarter. Principal Financial Group Inc. owned about 5.32% of CarMax worth $642,933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Graypoint LLC purchased a new position in shares of CarMax in the 3rd quarter worth about $202,000. Maia Wealth LLC boosted its stake in CarMax by 26.9% in the third quarter. Maia Wealth LLC now owns 22,461 shares of the company's stock worth $1,630,000 after buying an additional 4,761 shares in the last quarter. Radnor Capital Management LLC bought a new position in CarMax during the third quarter valued at approximately $373,000. 1834 Investment Advisors Co. raised its stake in shares of CarMax by 9.3% during the third quarter. 1834 Investment Advisors Co. now owns 7,184 shares of the company's stock worth $556,000 after acquiring an additional 611 shares in the last quarter. Finally, HF Advisory Group LLC grew its holdings in shares of CarMax by 3.0% during the 3rd quarter. HF Advisory Group LLC now owns 25,571 shares of the company's stock valued at $1,979,000 after purchasing an additional 739 shares during the last quarter.

CarMax Price Performance

Shares of KMX stock traded down $0.51 on Thursday, hitting $76.42. 972,297 shares of the stock traded hands, compared to its average volume of 1,902,081. CarMax, Inc. has a 52 week low of $61.73 and a 52 week high of $88.22. The company has a debt-to-equity ratio of 2.93, a current ratio of 2.25 and a quick ratio of 0.68. The firm has a market cap of $11.84 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.49 and a beta of 1.68. The firm has a 50 day simple moving average of $75.99 and a two-hundred day simple moving average of $75.05.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Thursday, September 26th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a return on equity of 6.83% and a net margin of 1.61%. The business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.83 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities research analysts predict that CarMax, Inc. will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com upgraded shares of CarMax to a "sell" rating in a research report on Friday, July 26th. BNP Paribas upgraded shares of CarMax to a "strong sell" rating in a report on Friday, September 27th. Needham & Company LLC reissued a "buy" rating and issued a $90.00 price target on shares of CarMax in a report on Wednesday, October 16th. Oppenheimer restated an "outperform" rating and set a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Finally, Evercore ISI increased their price objective on CarMax from $76.00 to $79.00 and gave the stock an "in-line" rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $79.73.

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.