Merit Financial Group LLC Invests $600,000 in CarMax, Inc. (NYSE:KMX)

Merit Financial Group LLC purchased a new stake in shares of CarMax, Inc. (NYSE:KMX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,333 shares of the company’s stock, valued at approximately $600,000.

Several other hedge funds have also made changes to their positions in the company. Lakewood Asset Management LLC raised its stake in CarMax by 0.6% during the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock valued at $1,778,000 after purchasing an additional 135 shares during the period. Arete Wealth Advisors LLC grew its holdings in shares of CarMax by 4.3% during the third quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock valued at $266,000 after buying an additional 141 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in CarMax by 2.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,220 shares of the company’s stock valued at $456,000 after buying an additional 142 shares during the period. Chemistry Wealth Management LLC lifted its stake in CarMax by 1.4% in the 4th quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock worth $999,000 after acquiring an additional 164 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. boosted its position in CarMax by 1.6% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 10,602 shares of the company’s stock worth $820,000 after acquiring an additional 170 shares during the period.

Insider Activity at CarMax

In related news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 20,260 shares in the company, valued at $1,649,771.80. This represents a 19.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of CarMax stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the completion of the transaction, the vice president now owns 9,448 shares of the company’s stock, valued at approximately $765,288. The trade was a 57.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,598 shares of company stock valued at $21,503,625 in the last 90 days. 1.66% of the stock is owned by corporate insiders.

CarMax Trading Down 1.5 %

Shares of KMX stock opened at $78.27 on Thursday. The firm has a market capitalization of $12.04 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.50 and a beta of 1.71. CarMax, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25. The firm’s fifty day simple moving average is $82.18 and its 200 day simple moving average is $79.23. 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 announced 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 return on equity of 7.49% and a net margin of 1.77%. The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter last year, the firm earned $0.52 EPS. CarMax’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that CarMax, Inc. will post 3.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KMX. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. increased their target price on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Oppenheimer restated an “outperform” rating and set a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Truist Financial increased their price objective on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Finally, Wedbush restated an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, CarMax has an average rating of “Hold” and a consensus target price of $85.17.

About CarMax

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.