Connor Clark & Lunn Investment Management Ltd. Trims Position in CarMax, Inc. (NYSE:KMX)

Connor Clark & Lunn Investment Management Ltd. decreased its position in shares of CarMax, Inc. (NYSE:KMX) by 14.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 431,075 shares of the company’s stock after selling 70,094 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CarMax were worth $35,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. First Hawaiian Bank purchased a new position in CarMax during the fourth quarter worth approximately $273,000. World Investment Advisors LLC purchased a new position in CarMax during the third quarter worth approximately $6,942,000. Sumitomo Mitsui Trust Group Inc. raised its stake in CarMax by 3.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock worth $27,188,000 after purchasing an additional 10,898 shares during the period. HF Advisory Group LLC raised its stake in CarMax by 12.6% during the fourth quarter. HF Advisory Group LLC now owns 28,793 shares of the company’s stock worth $2,354,000 after purchasing an additional 3,222 shares during the period. Finally, Merit Financial Group LLC purchased a new position in CarMax during the fourth quarter worth approximately $600,000.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of recent analyst reports. Royal Bank of Canada increased 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. Mizuho raised their target price on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Needham & Company LLC raised their target price on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Stephens assumed coverage on shares of CarMax in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price on the stock. Finally, StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $90.45.

CarMax Price Performance

KMX opened at $72.55 on Thursday. The company has a fifty day simple moving average of $82.22 and a 200 day simple moving average of $80.15. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 1.67 and a beta of 1.76. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

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

Insiders Place Their Bets

In other CarMax news, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This trade represents a 39.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was 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 approximately $1,649,771.80. This represents a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock valued at $21,915,445 in the last ninety days. Corporate insiders own 1.66% of the company’s stock.

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.