Federated Hermes Inc. Invests $34,000 in CarMax, Inc. (NYSE:KMX)

Federated Hermes Inc. acquired a new position in CarMax, Inc. (NYSE:KMX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 535 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KMX. Intech Investment Management LLC boosted its holdings in shares of CarMax by 14.8% during the 4th quarter. Intech Investment Management LLC now owns 39,475 shares of the company’s stock valued at $2,404,000 after purchasing an additional 5,082 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of CarMax during the 1st quarter valued at about $129,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of CarMax by 13.2% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,698 shares of the company’s stock valued at $651,000 after purchasing an additional 1,250 shares during the last quarter. Commerce Bank boosted its holdings in shares of CarMax by 2.2% during the 1st quarter. Commerce Bank now owns 8,579 shares of the company’s stock valued at $551,000 after purchasing an additional 186 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of CarMax by 65.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 12,557 shares of the company’s stock valued at $807,000 after purchasing an additional 4,981 shares during the last quarter.

Wall Street Analysts Forecast Growth

KMX has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of CarMax from $55.00 to $60.00 in a report on Monday, June 26th. Robert W. Baird increased their price target on shares of CarMax from $90.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Royal Bank of Canada increased their price target on shares of CarMax from $70.00 to $90.00 in a report on Monday, June 26th. Oppenheimer increased their price target on shares of CarMax from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Finally, Morgan Stanley increased their price target on shares of CarMax from $75.00 to $80.00 in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $77.60.

CarMax Stock Performance

Shares of NYSE:KMX opened at $78.42 on Friday. The firm has a market cap of $12.41 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 1.74 and a beta of 1.44. The firm’s 50 day simple moving average is $82.71 and its 200-day simple moving average is $74.03. CarMax, Inc. has a one year low of $52.10 and a one year high of $94.42. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.61 and a current ratio of 2.54.

CarMax (NYSE:KMX) last issued its earnings results on Friday, June 23rd. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.65. The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.49 billion. CarMax had a net margin of 1.64% and a return on equity of 7.46%. The company’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.56 earnings per share. As a group, equities analysts predict that CarMax, Inc. will post 2.95 EPS for the current year.

Insider Activity at CarMax

In other CarMax news, CEO William D. Nash sold 170,646 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $82.57, for a total value of $14,090,240.22. Following the completion of the sale, the chief executive officer now directly owns 177,180 shares in the company, valued at $14,629,752.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO William D. Nash sold 170,646 shares of CarMax stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $82.57, for a total transaction of $14,090,240.22. Following the completion of the sale, the chief executive officer now directly owns 177,180 shares in the company, valued at $14,629,752.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jon G. Daniels sold 27,783 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $82.42, for a total transaction of $2,289,874.86. Following the sale, the senior vice president now directly owns 7,255 shares in the company, valued at $597,957.10. The disclosure for this sale can be found here. Insiders have sold a total of 304,993 shares of company stock valued at $25,375,428 over the last ninety days. 1.66% of the stock is owned by company insiders.

About CarMax

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.