K.J. Harrison & Partners Inc Acquires New Position in CarMax, Inc. (NYSE:KMX)

K.J. Harrison & Partners Inc bought a new position in CarMax, Inc. (NYSE:KMX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $4,061,000.

A number of other institutional investors have also modified their holdings of the stock. Catalyst Capital Advisors LLC bought a new position in CarMax in the third quarter worth approximately $32,000. True Wealth Design LLC lifted its holdings in shares of CarMax by 4,844.4% in the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after buying an additional 436 shares during the period. Cromwell Holdings LLC grew its position in shares of CarMax by 104.8% during the 4th quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP increased its stake in shares of CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after buying an additional 249 shares during the period. Finally, Larson Financial Group LLC raised its holdings 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 acquiring an additional 353 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on KMX shares. Needham & Company LLC increased their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Evercore ISI raised shares of CarMax from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $90.00 to $110.00 in a research note on Thursday, February 6th. Mizuho increased their target price on CarMax from $72.00 to $80.00 and gave the company a “neutral” 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 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $87.50.

Insider Buying and Selling at CarMax

In related news, CEO William D. Nash sold 120,513 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This represents a 39.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the transaction, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. This trade represents a 95.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is owned by corporate insiders.

CarMax Trading Down 0.6 %

Shares of NYSE:KMX opened at $82.47 on Thursday. 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 firm has a market capitalization of $12.68 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.67 and a beta of 1.72. The business’s 50-day moving average is $83.34 and its 200 day moving average is $80.27. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25.

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 firm had revenue of $6.22 billion for 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 revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, research analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

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.