Oppenheimer & Co. Inc. Cuts Holdings in CarMax, Inc. (NYSE:KMX)

Oppenheimer & Co. Inc. lessened its holdings in shares of CarMax, Inc. (NYSE:KMX) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,811 shares of the company’s stock after selling 5,997 shares during the period. Oppenheimer & Co. Inc. owned 0.13% of CarMax worth $16,337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of KMX. FMR LLC increased its stake in CarMax by 2,883.1% during the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after buying an additional 1,713,379 shares during the period. Holocene Advisors LP boosted its stake in CarMax by 740.2% during the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after purchasing an additional 834,232 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CarMax by 41.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after acquiring an additional 436,342 shares during the period. Principal Financial Group Inc. lifted its stake in shares of CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after acquiring an additional 282,519 shares during the period. Finally, Ieq Capital LLC lifted its stake in shares of CarMax by 603.2% in the 4th quarter. Ieq Capital LLC now owns 110,691 shares of the company’s stock worth $9,050,000 after acquiring an additional 94,950 shares during the period.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Needham & Company LLC raised their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Truist Financial raised their price objective on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised their price objective on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Stephens began coverage on shares of CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price objective for the company. Finally, Evercore ISI upgraded shares of CarMax from an “in-line” rating to an “outperform” rating and raised their target price for the company from $90.00 to $110.00 in a report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.50.

CarMax Stock Performance

Shares of NYSE KMX opened at $82.47 on Thursday. The company has a market cap of $12.68 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.67 and a beta of 1.72. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The company has a 50-day simple moving average of $83.34 and a 200-day simple moving average of $80.27.

CarMax (NYSE:KMX) last released its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period last year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In other CarMax news, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total transaction of $407,150.00. Following the transaction, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at $1,649,771.80. The trade was a 19.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now directly 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. Over the last three months, insiders have sold 264,467 shares of company stock valued at $21,915,445. Insiders own 1.66% of the company’s stock.

CarMax Company 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.