Nexus Investment Management ULC Lowers Position in CarMax, Inc. (NYSE:KMX)

Nexus Investment Management ULC reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 7.1% in the 4th quarter, HoldingsChannel reports. The firm owned 350,815 shares of the company’s stock after selling 26,890 shares during the period. CarMax comprises approximately 2.9% of Nexus Investment Management ULC’s holdings, making the stock its 17th largest position. Nexus Investment Management ULC’s holdings in CarMax were worth $28,683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in KMX. Lakewood Asset Management LLC increased its position in CarMax by 0.6% during the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock worth $1,778,000 after purchasing an additional 135 shares during the period. Arete Wealth Advisors LLC boosted its stake in shares of CarMax by 4.3% in the third quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock valued at $266,000 after buying an additional 141 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock worth $456,000 after acquiring an additional 142 shares during the period. Chemistry Wealth Management LLC raised its position in CarMax by 1.4% in the fourth quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock worth $999,000 after acquiring an additional 164 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its position in CarMax by 1.6% in the third quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company’s stock worth $820,000 after acquiring an additional 170 shares in the last quarter.

CarMax Stock Down 0.9 %

KMX opened at $78.96 on Friday. The firm has a market cap of $12.14 billion, a P/E ratio of 26.77, a PEG ratio of 1.50 and a beta of 1.71. The business’s fifty day simple moving average is $82.07 and its 200 day simple moving average is $79.10. CarMax, Inc. has a 52 week low of $65.83 and a 52 week 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.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, equities research analysts anticipate that CarMax, Inc. will post 3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on KMX shares. Mizuho upped their price target on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Evercore ISI boosted their price objective on shares of CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 target price on shares of CarMax in a report on Friday, October 4th. Needham & Company LLC lifted their price target on shares of CarMax from $90.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.17.

Insider Buying and Selling at CarMax

In other CarMax news, CEO William D. Nash sold 120,513 shares of CarMax stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the transaction, the chief financial officer now owns 20,260 shares in the company, valued at approximately $1,649,771.80. The trade was a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 259,598 shares of company stock worth $21,503,625. 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.