Principal Financial Group Inc. Buys 282,519 Shares of CarMax, Inc. (NYSE:KMX)

Principal Financial Group Inc. increased its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,591,297 shares of the company's stock after acquiring an additional 282,519 shares during the quarter. Principal Financial Group Inc. owned about 5.59% of CarMax worth $702,425,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Americana Partners LLC acquired a new position in CarMax in the fourth quarter valued at about $283,000. Capital Performance Advisors LLP raised its position in shares of CarMax by 124.3% during the fourth quarter. Capital Performance Advisors LLP now owns 2,894 shares of the company's stock worth $237,000 after purchasing an additional 1,604 shares during the period. Keystone Financial Services grew its holdings in shares of CarMax by 1.7% during the fourth quarter. Keystone Financial Services now owns 12,097 shares of the company's stock worth $989,000 after buying an additional 206 shares in the last quarter. Copperleaf Capital LLC grew its holdings in shares of CarMax by 33.4% during the fourth quarter. Copperleaf Capital LLC now owns 15,603 shares of the company's stock worth $1,276,000 after buying an additional 3,908 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after buying an additional 249 shares in the last quarter.

Insider Activity

In related news, CEO William D. Nash sold 120,513 shares of the business's stock in a transaction 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 owns 181,683 shares in the company, 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 hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the completion of the sale, the chief financial officer now owns 20,260 shares in the company, valued at $1,649,771.80. This trade represents a 19.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 264,467 shares of company stock worth $21,915,445. Insiders own 1.66% of the company's stock.

CarMax Price Performance

NYSE KMX traded down $1.68 during midday trading on Wednesday, hitting $87.51. The company had a trading volume of 970,358 shares, compared to its average volume of 1,557,609. The company has a market capitalization of $13.46 billion, a PE ratio of 29.73, a P/E/G ratio of 1.74 and a beta of 1.72. 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 firm has a 50-day moving average price of $83.47 and a 200-day moving average price of $79.93. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter last year, the company posted $0.52 EPS. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that CarMax, Inc. will post 3.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KMX has been the subject of a number of research reports. Evercore ISI upgraded CarMax from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $90.00 to $110.00 in a report on Thursday, February 6th. Truist Financial raised their price target on CarMax from $72.00 to $88.00 and gave the company a "hold" rating in a research note on Friday, December 20th. StockNews.com upgraded CarMax from a "sell" rating to a "hold" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised their price target on CarMax from $70.00 to $72.00 and gave the company an "underweight" rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada lifted their target price on CarMax from $92.00 to $99.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CarMax currently has a consensus rating of "Hold" and an average target price of $87.50.

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.