Ieq Capital LLC Grows Stake in CarMax, Inc. (NYSE:KMX)

Ieq Capital LLC grew its stake in shares of CarMax, Inc. (NYSE:KMX) by 603.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,691 shares of the company’s stock after acquiring an additional 94,950 shares during the period. Ieq Capital LLC owned about 0.07% of CarMax worth $9,050,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new position in CarMax during the third quarter valued at $32,000. True Wealth Design LLC lifted its position in shares of CarMax by 4,844.4% during the 3rd quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after buying an additional 436 shares during the last quarter. Allworth Financial LP grew its stake in shares of CarMax by 62.7% during the 4th quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after acquiring an additional 249 shares during the period. ST Germain D J Co. Inc. purchased a new stake in CarMax in the 4th quarter worth about $58,000. Finally, Larson Financial Group LLC increased its holdings in CarMax by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after acquiring an additional 353 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Royal Bank of Canada increased their target price 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. Needham & Company LLC upped their price target 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. JPMorgan Chase & Co. lifted 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. Truist Financial increased their target price on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Finally, Evercore ISI upgraded CarMax from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $90.00 to $110.00 in a research report on Thursday, February 6th. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $87.50.

Insider Transactions at CarMax

In related news, CEO William D. Nash sold 120,513 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total value of $10,031,502.12. Following the completion of the transaction, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $15,123,292.92. The trade was a 39.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 227 shares in the company, valued at approximately $19,199.66. This represents a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,467 shares of company stock valued at $21,915,445 in the last quarter. Insiders own 1.66% of the company’s stock.

CarMax Price Performance

Shares of NYSE KMX opened at $85.68 on Friday. The stock’s 50-day simple moving average is $83.46 and its two-hundred day simple moving average is $80.02. CarMax, Inc. has a twelve month low of $65.83 and a twelve month high of $91.25. The firm has a market capitalization of $13.18 billion, a P/E ratio of 29.04, a P/E/G ratio of 1.75 and a beta of 1.72. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share 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 company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period in the prior year, the business earned $0.52 earnings per share. CarMax’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that CarMax, Inc. will post 3.22 EPS for the current fiscal year.

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.