Pacer Advisors Inc. increased its stake in CarMax, Inc. (NYSE:KMX – Free Report) by 94.6% during the 4th quarter, HoldingsChannel reports. The firm owned 23,115 shares of the company’s stock after buying an additional 11,237 shares during the period. Pacer Advisors Inc.’s holdings in CarMax were worth $1,890,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in CarMax by 78.6% in the second quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in CarMax in the third quarter worth approximately $32,000. True Wealth Design LLC boosted its holdings in CarMax by 4,844.4% in the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after purchasing an additional 436 shares during the last quarter. Larson Financial Group LLC boosted its holdings in CarMax by 91.9% in the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after purchasing an additional 353 shares during the last quarter. Finally, ST Germain D J Co. Inc. purchased a new stake in CarMax in the fourth quarter worth approximately $58,000.
Insider Buying and Selling at CarMax
In other news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the sale, the chief financial officer now directly owns 20,260 shares in the company, valued at $1,649,771.80. The trade was a 19.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares in the company, valued at approximately $19,199.66. This trade represents a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 264,467 shares of company stock worth $21,915,445. Insiders own 1.66% of the company’s stock.
CarMax Stock Down 2.2 %
CarMax (NYSE:KMX – Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. The company 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%. CarMax’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. On average, sell-side analysts forecast that CarMax, Inc. will post 3.25 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on KMX. Royal Bank of Canada lifted their price target on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Truist Financial lifted their price target on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Wedbush reiterated an “outperform” rating and set a $95.00 price target on shares of CarMax in a research note on Wednesday, October 16th. Mizuho lifted their price target on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC lifted their price target on shares of CarMax from $90.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, CarMax presently has an average rating of “Hold” and an average target price of $85.17.
Get Our Latest Analysis on KMX
CarMax Profile
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.
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