Allegiance Financial Group Advisory Services LLC Takes $201,000 Position in CarMax, Inc. (NYSE:KMX)

Allegiance Financial Group Advisory Services LLC bought a new stake in shares of CarMax, Inc. (NYSE:KMX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,455 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of CarMax by 3.4% during the fourth 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 last quarter. State Street Corp grew its stake in CarMax by 0.6% in the third quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after acquiring an additional 36,959 shares during the period. Janus Henderson Group PLC boosted its position in shares of CarMax by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock worth $359,216,000 after buying an additional 28,466 shares during the period. Geode Capital Management LLC raised its holdings in CarMax by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock worth $282,479,000 after acquiring an additional 14,903 shares in the last quarter. Finally, FMR LLC raised its holdings in CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after acquiring an additional 1,713,379 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Truist Financial raised their target price on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. Evercore ISI raised CarMax from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $90.00 to $110.00 in a report on Thursday, February 6th. Mizuho raised their target price on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada raised their target price on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $87.50.

CarMax Trading Down 0.6 %

Shares of CarMax stock opened at $82.47 on Thursday. The company’s fifty day simple moving average is $83.34 and its 200-day simple moving average is $80.27. The stock has a market capitalization of $12.68 billion, a PE ratio of 27.96, a P/E/G ratio of 1.67 and a beta of 1.72. CarMax, Inc. has a 1-year low of $65.83 and a 1-year 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.

CarMax (NYSE:KMX) 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. As a group, equities analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now owns 227 shares of the company’s stock, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jill A. Livesay sold 13,009 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the sale, the vice president now directly owns 9,448 shares of the company’s stock, valued at $765,288. The trade was a 57.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,467 shares of company stock valued at $21,915,445. Company 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.