CIBC Asset Management Inc Has $1.95 Million Holdings in CarMax, Inc. (NYSE:KMX)

CIBC Asset Management Inc raised its holdings in CarMax, Inc. (NYSE:KMX) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,808 shares of the company’s stock after acquiring an additional 968 shares during the period. CIBC Asset Management Inc’s holdings in CarMax were worth $1,947,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. First Hawaiian Bank acquired a new position in shares of CarMax in the 4th quarter valued at approximately $273,000. World Investment Advisors LLC bought a new position in CarMax in the third quarter valued at approximately $6,942,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of CarMax by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after buying an additional 10,898 shares during the period. HF Advisory Group LLC increased its position in shares of CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock worth $2,354,000 after acquiring an additional 3,222 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of CarMax during the fourth quarter worth $600,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KMX shares. Needham & Company LLC upped their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Stephens assumed coverage on CarMax in a research report on Thursday, December 5th. They set an “equal weight” rating and a $86.00 price objective for the company. Mizuho increased 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. Truist Financial boosted their target price on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.50.

CarMax Stock Performance

NYSE KMX opened at $82.62 on Friday. The firm 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. 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’s fifty day moving average price is $83.39 and its two-hundred day moving average price is $80.08. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25.

CarMax (NYSE:KMX) last issued its 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. The business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. CarMax’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. As a group, research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Activity

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $15,123,292.92. This represents a 39.88 % decrease in their position. 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 over the last three months. Insiders own 1.66% of the company’s stock.

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.