Zurcher Kantonalbank Zurich Cantonalbank Sells 9,162 Shares of CarMax, Inc. (NYSE:KMX)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,016 shares of the company's stock after selling 9,162 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CarMax were worth $2,291,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Amundi grew its position in CarMax by 54.3% during the fourth quarter. Amundi now owns 360,867 shares of the company's stock valued at $29,566,000 after buying an additional 127,007 shares during the period. Inceptionr LLC grew its position in CarMax by 20.4% during the fourth quarter. Inceptionr LLC now owns 5,595 shares of the company's stock valued at $457,000 after buying an additional 949 shares during the period. Raymond James Financial Inc. bought a new position in CarMax during the fourth quarter worth about $31,061,000. Arizona State Retirement System boosted its position in CarMax by 0.6% during the fourth quarter. Arizona State Retirement System now owns 44,998 shares of the company's stock worth $3,679,000 after purchasing an additional 282 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in CarMax during the fourth quarter worth about $2,173,000.

Insiders Place Their Bets

In other news, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction that occurred on 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 transaction, the vice president now owns 9,448 shares in the company, valued at $765,288. This represents a 57.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jon G. Daniels sold 30,245 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $84.34, for a total transaction of $2,550,863.30. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at $83,918.30. This trade represents a 96.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 264,467 shares of company stock valued at $21,915,445. 1.66% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

KMX has been the subject of a number of research reports. Mizuho increased their target price on shares of CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Stephens initiated coverage on shares of CarMax in a research report on Thursday, December 5th. They set an "equal weight" rating and a $86.00 target price for the company. Truist Financial increased their target price on shares of CarMax from $72.00 to $88.00 and gave the stock a "hold" rating in a research report on Friday, December 20th. Evercore ISI cut their target price on shares of CarMax from $107.00 to $105.00 and set an "outperform" rating for the company in a research report on Tuesday, March 11th. Finally, Needham & Company LLC raised their price objective on shares of CarMax from $98.00 to $101.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Two 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 company. According to data from MarketBeat.com, CarMax currently has an average rating of "Hold" and a consensus target price of $90.45.

CarMax Stock Performance

NYSE:KMX traded up $0.87 during mid-day trading on Thursday, reaching $71.70. The company's stock had a trading volume of 2,417,071 shares, compared to its average volume of 1,900,836. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. The firm's fifty day moving average price is $81.22 and its two-hundred day moving average price is $79.64. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The stock has a market cap of $11.03 billion, a P/E ratio of 24.31, a PEG ratio of 1.67 and a beta of 1.76.

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 analysts forecast that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

CarMax 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.