Federated Hermes Inc. Purchases New Stake in CarMax, Inc. (NYSE:KMX)

Federated Hermes Inc. acquired a new stake in CarMax, Inc. (NYSE:KMX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 813 shares of the company’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also bought and sold shares of KMX. Allworth Financial LP boosted its holdings in shares of CarMax by 153.3% in the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after acquiring an additional 207 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of CarMax by 1,081.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock valued at $34,000 after buying an additional 400 shares during the period. Mendota Financial Group LLC purchased a new stake in shares of CarMax in the fourth quarter worth about $37,000. Harbor Investment Advisory LLC grew its stake in CarMax by 38.4% during the fourth quarter. Harbor Investment Advisory LLC now owns 858 shares of the company’s stock valued at $66,000 after acquiring an additional 238 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in CarMax during the 3rd quarter worth approximately $71,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on KMX. Robert W. Baird dropped their price objective on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, April 12th. JPMorgan Chase & Co. cut their target price on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a research note on Monday, April 15th. Evercore ISI decreased their price target on shares of CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Bank of America upped their price objective on shares of CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 target price on shares of CarMax in a research report on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, CarMax has a consensus rating of “Hold” and a consensus target price of $77.42.

CarMax Stock Up 1.3 %

Shares of NYSE:KMX opened at $69.59 on Tuesday. CarMax, Inc. has a 1 year low of $59.66 and a 1 year high of $88.22. 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 stock’s 50-day moving average is $77.62 and its 200 day moving average is $72.16. The company has a market cap of $10.95 billion, a PE ratio of 22.97, a P/E/G ratio of 1.15 and a beta of 1.64.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The business had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. CarMax had a net margin of 1.81% and a return on equity of 7.26%. CarMax’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. Sell-side analysts anticipate that CarMax, Inc. will post 3.27 EPS for the current year.

Insider Transactions at CarMax

In other CarMax news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the completion of the sale, the executive vice president now directly owns 6,977 shares in the company, valued at $485,110.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.66% of the company’s stock.

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.