HB Wealth Management LLC Invests $386,000 in CarMax, Inc. (NYSE:KMX)

HB Wealth Management LLC acquired a new stake in CarMax, Inc. (NYSE:KMX) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,433 shares of the company’s stock, valued at approximately $386,000.

A number of other institutional investors have also bought and sold shares of the business. BNP Paribas Financial Markets grew its position in CarMax by 16.4% in the fourth quarter. BNP Paribas Financial Markets now owns 127,402 shares of the company’s stock worth $9,777,000 after acquiring an additional 17,973 shares during the period. Fairview Capital Investment Management LLC raised its holdings in CarMax by 7.0% in the 4th quarter. Fairview Capital Investment Management LLC now owns 251,530 shares of the company’s stock valued at $19,302,000 after buying an additional 16,438 shares during the period. Quadrature Capital Ltd acquired a new position in CarMax in the fourth quarter valued at about $5,637,000. Charles Schwab Investment Management Inc. boosted its stake in CarMax by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 991,111 shares of the company’s stock worth $76,058,000 after buying an additional 30,107 shares during the period. Finally, First Pacific Advisors LP increased its position in shares of CarMax by 1.2% during the fourth quarter. First Pacific Advisors LP now owns 2,331,545 shares of the company’s stock valued at $178,923,000 after acquiring an additional 28,095 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KMX. Robert W. Baird decreased their price target on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, April 12th. Evercore ISI lowered their price target on CarMax from $73.00 to $68.00 and set an “in-line” rating on the stock in a report on Thursday, June 20th. Needham & Company LLC cut their price objective on shares of CarMax from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Truist Financial lifted their price objective on CarMax from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday, June 24th. Finally, Oppenheimer restated an “outperform” rating and issued a $105.00 price target on shares of CarMax in a research note on Monday, June 24th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CarMax has a consensus rating of “Hold” and an average target price of $75.50.

CarMax Stock Down 1.4 %

Shares of KMX traded down $1.05 during midday trading on Friday, hitting $71.83. The company had a trading volume of 516,646 shares, compared to its average volume of 2,006,183. The company has a quick ratio of 0.60, a current ratio of 2.50 and a debt-to-equity ratio of 2.95. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.45 and a beta of 1.69. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22. The company’s 50 day moving average price is $70.92 and its 200 day moving average price is $74.01.

CarMax (NYSE:KMX) last released its earnings results on Friday, June 21st. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. CarMax had a net margin of 1.55% and a return on equity of 6.64%. The firm had revenue of $7.11 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. On average, equities research analysts predict that CarMax, Inc. will post 3.02 EPS for the current year.

Insider Activity

In other CarMax news, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $72.46, for a total transaction of $89,198.26. Following the completion of the transaction, the senior vice president now directly owns 995 shares of the company’s stock, valued at approximately $72,097.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the completion of the transaction, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jon G. Daniels sold 1,231 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $72.46, for a total value of $89,198.26. Following the completion of the sale, the senior vice president now directly owns 995 shares in the company, valued at approximately $72,097.70. The disclosure for this sale can be found here. Corporate 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.