Ieq Capital LLC Increases Position in CarMax, Inc. (NYSE:KMX)

Ieq Capital LLC increased its position in CarMax, Inc. (NYSE:KMX - Free Report) by 603.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 110,691 shares of the company's stock after acquiring an additional 94,950 shares during the period. Ieq Capital LLC owned about 0.07% of CarMax worth $9,050,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KMX. Creative Planning lifted its holdings in shares of CarMax by 5.9% during the third quarter. Creative Planning now owns 13,833 shares of the company's stock valued at $1,070,000 after purchasing an additional 766 shares in the last quarter. Blue Trust Inc. lifted its stake in CarMax by 108.2% during the 3rd quarter. Blue Trust Inc. now owns 1,043 shares of the company's stock valued at $76,000 after acquiring an additional 542 shares during the period. Raymond James & Associates boosted its holdings in shares of CarMax by 4.1% during the 3rd quarter. Raymond James & Associates now owns 248,148 shares of the company's stock valued at $19,202,000 after acquiring an additional 9,778 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of CarMax by 4.5% in the third quarter. Foundations Investment Advisors LLC now owns 12,422 shares of the company's stock worth $961,000 after acquiring an additional 540 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of CarMax during the third quarter valued at approximately $223,000.

CarMax Price Performance

KMX stock traded down $2.98 during trading on Friday, reaching $82.62. The company's stock had a trading volume of 1,614,402 shares, compared to its average volume of 1,585,182. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The company's fifty day moving average is $83.46 and its 200-day moving average is $80.02. The company has a market capitalization of $12.71 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 1.71 and a beta of 1.72. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating 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 business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The business's revenue was up 1.2% on a year-over-year basis. On average, research analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity at CarMax

In other news, CEO William D. Nash sold 120,513 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the sale, the chief executive officer now directly owns 181,683 shares of the company's stock, valued at $15,123,292.92. This represents a 39.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jon G. Daniels sold 10,000 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $85.30, for a total transaction of $853,000.00. Following the completion of the transaction, the senior vice president now directly owns 995 shares of the company's stock, valued at approximately $84,873.50. This trade represents a 90.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 264,467 shares of company stock valued at $21,915,445. Insiders own 1.66% of the company's stock.

Analyst Upgrades and Downgrades

KMX has been the topic of several research reports. Needham & Company LLC raised their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. 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. Truist Financial upped their price objective on CarMax from $72.00 to $88.00 and gave the company a "hold" rating in a research report on Friday, December 20th. Mizuho raised their target price on CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a research report on Friday, December 20th. Finally, StockNews.com raised shares of CarMax from a "sell" rating to a "hold" rating in a research report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, CarMax presently has an average rating of "Hold" and an average target price of $87.50.

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.