Mackenzie Financial Corp Grows Holdings in CarMax, Inc. (NYSE:KMX)

Mackenzie Financial Corp grew its holdings in shares of CarMax, Inc. (NYSE:KMX) by 297.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,382 shares of the company’s stock after buying an additional 20,492 shares during the quarter. Mackenzie Financial Corp’s holdings in CarMax were worth $2,101,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Diamond Hill Capital Management Inc. raised its position in shares of CarMax by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock valued at $392,458,000 after acquiring an additional 210,440 shares in the last quarter. Invesco Ltd. raised its position in shares of CarMax by 3.1% during the 3rd quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock valued at $207,843,000 after acquiring an additional 88,488 shares in the last quarter. Northern Trust Corp raised its position in shares of CarMax by 3.2% during the 3rd quarter. Northern Trust Corp now owns 1,570,993 shares of the company’s stock valued at $111,116,000 after acquiring an additional 48,879 shares in the last quarter. Giverny Capital Inc. raised its position in shares of CarMax by 1.3% during the 3rd quarter. Giverny Capital Inc. now owns 1,520,438 shares of the company’s stock valued at $107,541,000 after acquiring an additional 20,198 shares in the last quarter. Finally, Timucuan Asset Management Inc. FL raised its position in shares of CarMax by 1.4% during the 3rd quarter. Timucuan Asset Management Inc. FL now owns 1,446,506 shares of the company’s stock valued at $102,311,000 after acquiring an additional 20,211 shares in the last quarter.

CarMax Price Performance

Shares of KMX opened at $69.71 on Wednesday. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22. The stock’s fifty day moving average is $78.18 and its 200-day moving average is $72.12.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that CarMax, Inc. will post 3.3 EPS for the current year.

Insider Activity at CarMax

In related news, EVP Diane L. Cafritz sold 22,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the completion of the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at $355,515.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $70.89, for a total value of $1,006,567.11. Following the completion of the transaction, the vice president now owns 9,068 shares in the company, valued at approximately $642,830.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane L. Cafritz sold 22,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $70.08, for a total value of $1,541,760.00. Following the completion of the transaction, the executive vice president now owns 5,073 shares of the company’s stock, valued at approximately $355,515.84. The disclosure for this sale can be found here. Company insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

KMX has been the topic of several research reports. Truist Financial dropped their price target on CarMax from $75.00 to $72.00 and set a “hold” rating on the stock in a research report on Friday, April 12th. JPMorgan Chase & Co. dropped their target price on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Monday, April 15th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of CarMax in a research report on Tuesday, April 16th. Needham & Company LLC dropped their target price on CarMax from $99.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Finally, Bank of America increased their target price on CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, CarMax has an average rating of “Hold” and an average price target of $77.42.

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.