Allspring Global Investments Holdings LLC Trims Position in CarMax, Inc. (NYSE:KMX)

Allspring Global Investments Holdings LLC lessened its position in shares of CarMax, Inc. (NYSE:KMX) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,319 shares of the company’s stock after selling 538 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CarMax were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KMX. FMR LLC increased its position in CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after buying an additional 1,713,379 shares in the last quarter. Holocene Advisors LP increased its position in CarMax by 740.2% in the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after buying an additional 834,232 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CarMax by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after buying an additional 436,342 shares in the last quarter. World Investment Advisors LLC purchased a new stake in CarMax in the third quarter worth about $6,942,000. Finally, Neo Ivy Capital Management purchased a new stake in CarMax in the third quarter worth about $3,934,000.

CarMax Price Performance

NYSE:KMX opened at $82.82 on Tuesday. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.67 and a beta of 1.72. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25. The business has a 50 day simple moving average of $83.33 and a 200-day simple moving average of $80.20. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

CarMax (NYSE:KMX) last posted its quarterly earnings data 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 analyst estimates of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. Equities analysts forecast that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Activity

In other news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Nash sold 120,513 shares of the stock in a transaction that occurred on 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 approximately $15,123,292.92. The trade was a 39.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,467 shares of company stock valued at $21,915,445 in the last ninety days. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KMX. Truist Financial upped 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. Stephens began coverage on CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price objective for the company. Needham & Company LLC upped their price objective on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Mizuho upped their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada upped 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. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CarMax has an average rating of “Hold” and a consensus 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.