CarMax, Inc. (NYSE:KMX) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 3.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,080,456 shares of the company's stock after selling 203,378 shares during the period. Primecap Management Co. CA owned approximately 3.30% of CarMax worth $415,378,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. lifted its holdings in CarMax by 9,900.0% in the 3rd quarter. Assetmark Inc. now owns 1,400 shares of the company's stock valued at $108,000 after purchasing an additional 1,386 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of CarMax by 77.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,915 shares of the company's stock valued at $380,000 after acquiring an additional 2,146 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of CarMax by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 52,929 shares of the company's stock worth $4,096,000 after acquiring an additional 923 shares during the period. CIBC Asset Management Inc boosted its position in shares of CarMax by 7.5% in the third quarter. CIBC Asset Management Inc now owns 22,840 shares of the company's stock worth $1,767,000 after acquiring an additional 1,589 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC purchased a new stake in CarMax in the third quarter valued at approximately $222,000.

CarMax Stock Down 0.6 %

Shares of CarMax stock traded down $0.40 during trading hours on Friday, hitting $71.29. 2,971,038 shares of the company's stock traded hands, compared to its average volume of 1,904,279. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The stock has a 50 day simple moving average of $81.02 and a 200-day simple moving average of $79.59. The company has a market cap of $10.96 billion, a PE ratio of 24.17, a PEG ratio of 1.67 and a beta of 1.76.

Remove Ads

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $6.22 billion for the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. CarMax's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. Equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William D. Nash sold 120,513 shares of CarMax stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total value of $10,031,502.12. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $15,123,292.92. This trade represents a 39.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock valued at $21,915,445 in the last ninety days. Corporate insiders own 1.66% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KMX. Truist Financial upped their price objective on CarMax from $72.00 to $88.00 and gave the stock a "hold" rating in a report on Friday, December 20th. Mizuho raised their price objective on CarMax from $72.00 to $80.00 and gave the stock a "neutral" rating in a report on Friday, December 20th. Stephens started coverage on CarMax in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $86.00 price objective on the stock. Needham & Company LLC increased their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of CarMax from $70.00 to $72.00 and gave the company an "underweight" rating in a research report on Friday, December 20th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $90.45.

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.