Daiwa Securities Group Inc. Raises Position in CarMax, Inc. (NYSE:KMX)

Daiwa Securities Group Inc. boosted its stake in CarMax, Inc. (NYSE:KMX) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,147 shares of the company’s stock after buying an additional 1,111 shares during the quarter. Daiwa Securities Group Inc.’s holdings in CarMax were worth $2,301,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. First Pacific Advisors LP raised its holdings in CarMax by 0.6% in the 4th quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company’s stock valued at $195,984,000 after acquiring an additional 13,487 shares during the last quarter. Amundi increased its holdings in shares of CarMax by 54.3% during the 4th quarter. Amundi now owns 360,867 shares of the company’s stock worth $29,566,000 after buying an additional 127,007 shares during the last quarter. Inceptionr LLC increased its holdings in shares of CarMax by 20.4% during the 4th quarter. Inceptionr LLC now owns 5,595 shares of the company’s stock worth $457,000 after buying an additional 949 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CarMax during the 4th quarter worth approximately $31,061,000. Finally, Arizona State Retirement System increased its holdings in shares of CarMax by 0.6% during the 4th quarter. Arizona State Retirement System now owns 44,998 shares of the company’s stock worth $3,679,000 after buying an additional 282 shares during the last quarter.

Insider Buying and Selling at CarMax

In other CarMax news, SVP Jon G. Daniels sold 10,000 shares of CarMax stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $85.30, for a total value of $853,000.00. Following the transaction, the senior vice president now directly owns 995 shares in the company, valued at approximately $84,873.50. The trade was a 90.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the transaction, the vice president now owns 9,448 shares in the company, valued at approximately $765,288. This trade represents a 57.93 % 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 worth $21,915,445. 1.66% of the stock is owned by company insiders.

CarMax Price Performance

Shares of NYSE:KMX opened at $69.89 on Friday. The company’s fifty day moving average price is $81.77 and its 200 day moving average price is $79.96. 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 firm has a market capitalization of $10.75 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.67 and a beta of 1.76.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.62 by $0.19. The firm had revenue of $6.22 billion for 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%. CarMax’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. As a group, sell-side analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KMX. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Mizuho raised their price target on shares of CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Royal Bank of Canada increased their price objective on shares of CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Evercore ISI lowered their price objective on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Truist Financial increased their price objective on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.45.

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.