CIBC Asset Management Inc Purchases 968 Shares of CarMax, Inc. (NYSE:KMX)

CIBC Asset Management Inc grew its position in shares of CarMax, Inc. (NYSE:KMX) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,808 shares of the company’s stock after buying an additional 968 shares during the period. CIBC Asset Management Inc’s holdings in CarMax were worth $1,947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of CarMax in the third quarter valued at about $32,000. True Wealth Design LLC boosted its holdings in CarMax by 4,844.4% in the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after purchasing an additional 436 shares during the period. Allworth Financial LP grew its position in shares of CarMax by 62.7% during the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after purchasing an additional 249 shares in the last quarter. ST Germain D J Co. Inc. bought a new position in shares of CarMax during the fourth quarter worth approximately $58,000. Finally, Larson Financial Group LLC raised its position in shares of CarMax by 91.9% in the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after buying an additional 353 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KMX shares. Truist Financial increased their price target on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Needham & Company LLC increased their target price on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Evercore ISI raised CarMax from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $90.00 to $110.00 in a research note on Thursday, February 6th. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Mizuho boosted their target price on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $87.50.

CarMax Price Performance

Shares of NYSE:KMX opened at $82.62 on Friday. CarMax, Inc. has a one year low of $65.83 and a one year high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The company has a market cap of $12.71 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.71 and a beta of 1.72. The firm has a 50 day simple moving average of $83.39 and a 200 day simple moving average of $80.08.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. The company had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. CarMax’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. Research analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at CarMax

In related news, SVP Jon G. Daniels sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $85.30, for a total value of $853,000.00. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at $84,873.50. This trade represents a 90.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of CarMax stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now owns 9,448 shares in the company, valued at approximately $765,288. This represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is currently owned by insiders.

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.