CarMax, Inc. (NYSE:KMX) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in CarMax, Inc. (NYSE:KMX) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,076,909 shares of the company’s stock after purchasing an additional 222,132 shares during the period. Vanguard Group Inc. owned approximately 11.45% of CarMax worth $1,387,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in KMX. DekaBank Deutsche Girozentrale boosted its position in shares of CarMax by 7.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 29,113 shares of the company’s stock worth $2,003,000 after purchasing an additional 1,971 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in CarMax during the 3rd quarter worth $1,445,000. Envestnet Asset Management Inc. increased its position in shares of CarMax by 38.6% during the third quarter. Envestnet Asset Management Inc. now owns 1,161,514 shares of the company’s stock worth $82,154,000 after purchasing an additional 323,652 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of CarMax by 3.1% in the 3rd quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock valued at $207,843,000 after purchasing an additional 88,488 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in CarMax by 262.3% in the third quarter. V Square Quantitative Management LLC now owns 3,453 shares of the company’s stock valued at $244,000 after buying an additional 2,500 shares during the last quarter.

Analyst Upgrades and Downgrades

KMX has been the topic of several recent research reports. Mizuho dropped their price target on CarMax from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Tuesday. Oppenheimer reissued an “outperform” rating and set a $105.00 price target on shares of CarMax in a report on Tuesday, April 9th. Truist Financial cut their target price on CarMax from $72.00 to $66.00 and set a “hold” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Monday, April 15th. Finally, Needham & Company LLC cut their price target on shares of CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.17.

Insider Activity at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the sale, the executive vice president now owns 6,977 shares in the company, valued at approximately $485,110.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.66% of the company’s stock.

CarMax Price Performance

KMX stock opened at $71.50 on Thursday. The stock has a market capitalization of $11.25 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.39 and a beta of 1.69. The stock’s fifty day simple moving average is $70.41 and its 200-day simple moving average is $73.77. CarMax, Inc. has a 52-week low of $59.66 and a 52-week high of $88.22. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. Equities research analysts expect that CarMax, Inc. will post 3.1 EPS for the current year.

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.