Exchange Traded Concepts LLC Raises Stock Position in CarMax, Inc. (NYSE:KMX)

Exchange Traded Concepts LLC grew its holdings in CarMax, Inc. (NYSE:KMX) by 13.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 8,187 shares of the company’s stock after acquiring an additional 975 shares during the period. Exchange Traded Concepts LLC’s holdings in CarMax were worth $669,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings in CarMax by 2,883.1% during the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after purchasing an additional 1,713,379 shares during the period. Holocene Advisors LP boosted its stake in shares of CarMax by 740.2% during the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after purchasing an additional 834,232 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CarMax by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock valued at $114,471,000 after buying an additional 436,342 shares during the period. World Investment Advisors LLC purchased a new position in shares of CarMax in the 3rd quarter valued at $6,942,000. Finally, Neo Ivy Capital Management bought a new position in CarMax in the third quarter worth about $3,934,000.

Insiders Place Their Bets

In related news, CEO William D. Nash sold 120,513 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the firm’s 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 in the company, 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 three months, insiders sold 259,598 shares of company stock worth $21,503,625. Corporate insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Oppenheimer reissued an “outperform” rating and set a $105.00 price objective on shares of CarMax in a report on Friday, October 4th. Needham & Company LLC boosted their price target on CarMax from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Mizuho raised their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Finally, Royal Bank of Canada upped their target price on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.17.

CarMax Stock Up 0.6 %

KMX stock opened at $85.75 on Thursday. The firm’s fifty day moving average is $82.88 and its 200 day moving average is $79.50. CarMax, Inc. has a one year low of $65.83 and a one year high of $91.25. The firm has a market cap of $13.19 billion, a PE ratio of 29.07, a P/E/G ratio of 1.49 and a beta of 1.71. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30.

CarMax (NYSE:KMX) last announced its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter last year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts forecast that CarMax, Inc. will post 3.19 EPS for the current 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.