CarMax, Inc. (NYSE:KMX) Shares Purchased by abrdn plc

abrdn plc lifted its position in CarMax, Inc. (NYSE:KMX) by 70.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,217 shares of the company’s stock after acquiring an additional 27,307 shares during the period. abrdn plc’s holdings in CarMax were worth $5,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in KMX. American Century Companies Inc. increased its position in shares of CarMax by 674.3% in the 3rd quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock valued at $57,059,000 after acquiring an additional 702,526 shares during the period. Los Angeles Capital Management LLC increased its position in shares of CarMax by 2,311.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company’s stock valued at $42,697,000 after acquiring an additional 578,622 shares during the period. Envestnet Asset Management Inc. grew its position in CarMax by 38.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,161,514 shares of the company’s stock worth $82,154,000 after purchasing an additional 323,652 shares during the period. Barclays PLC grew its position in CarMax by 95.7% during the 3rd quarter. Barclays PLC now owns 589,759 shares of the company’s stock worth $41,713,000 after purchasing an additional 288,350 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in CarMax by 87.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 474,317 shares of the company’s stock worth $33,548,000 after purchasing an additional 221,588 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KMX. JPMorgan Chase & Co. cut their price target on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Monday, April 15th. Robert W. Baird cut their price target on CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, April 12th. Bank of America increased their price target on CarMax from $44.00 to $50.00 and gave the stock an “underperform” rating in a research report on Thursday, February 29th. Truist Financial cut 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. Finally, StockNews.com upgraded CarMax to a “sell” rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.42.

CarMax Trading Up 0.5 %

KMX opened at $69.59 on Friday. The company has a debt-to-equity ratio of 2.96, a current ratio of 2.26 and a quick ratio of 0.67. The company’s 50 day simple moving average is $77.98 and its two-hundred day simple moving average is $72.12. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 1.16 and a beta of 1.61.

CarMax (NYSE:KMX) last released its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). CarMax had a return on equity of 7.26% and a net margin of 1.81%. The business had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $5.76 billion. During the same period last year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Analysts expect that CarMax, Inc. will post 3.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other CarMax news, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the transaction, the vice president now directly owns 9,068 shares of the company’s stock, 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. In other news, EVP Diane L. Cafritz sold 15,356 shares of CarMax stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the sale, the executive vice president now owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jill A. Livesay sold 14,199 shares of CarMax stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the sale, the vice president now directly owns 9,068 shares in the company, valued at approximately $642,830.52. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company’s stock.

CarMax Company Profile

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.