CarMax, Inc. (NYSE:KMX) Position Lessened by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,900 shares of the company’s stock after selling 300 shares during the period. CarMax accounts for approximately 2.6% of Long Road Investment Counsel LLC’s portfolio, making the stock its 11th biggest holding. Long Road Investment Counsel LLC owned 0.05% of CarMax worth $6,287,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank bought a new position in CarMax during the fourth quarter valued at about $273,000. Jones Financial Companies Lllp raised its holdings in CarMax by 36.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company’s stock valued at $426,000 after buying an additional 1,396 shares in the last quarter. World Investment Advisors LLC bought a new position in CarMax during the third quarter valued at about $6,942,000. HF Advisory Group LLC raised its holdings in CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock valued at $2,354,000 after buying an additional 3,222 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in CarMax during the fourth quarter valued at about $600,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KMX shares. Evercore ISI cut their target price on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Truist Financial lifted their price objective on CarMax from $72.00 to $88.00 and gave the stock 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. Royal Bank of Canada lifted their price objective on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price objective on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.45.

CarMax Trading Up 3.0 %

Shares of KMX opened at $71.98 on Tuesday. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. 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 firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 1.67 and a beta of 1.76. The stock’s 50-day moving average price is $81.62 and its 200 day moving average price is $79.81.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share 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 period in the prior year, the company posted $0.52 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Activity

In other news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William D. Nash sold 120,513 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total value of $10,031,502.12. Following the completion of the sale, the chief executive officer now owns 181,683 shares in the company, valued at approximately $15,123,292.92. This represents a 39.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 264,467 shares of company stock worth $21,915,445. Company insiders own 1.66% of the company’s stock.

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.