Cibc World Markets Corp Boosts Stock Holdings in CarMax, Inc. (NYSE:KMX)

Cibc World Markets Corp lifted its stake in shares of CarMax, Inc. (NYSE:KMX) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,438 shares of the company’s stock after acquiring an additional 3,252 shares during the quarter. Cibc World Markets Corp’s holdings in CarMax were worth $1,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Cromwell Holdings LLC increased its holdings in CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock valued at $35,000 after buying an additional 217 shares during the last quarter. True Wealth Design LLC increased its holdings in CarMax by 4,844.4% in the third 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 increased its holdings in CarMax by 62.7% in the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock valued at $51,000 after buying an additional 249 shares during the last quarter. ST Germain D J Co. Inc. purchased a new position in CarMax in the fourth quarter valued at $58,000. Finally, Larson Financial Group LLC increased its holdings in CarMax by 91.9% in the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after buying an additional 353 shares during the last quarter.

Insider Transactions at CarMax

In related news, EVP Mohammad Shamim sold 10,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the completion of the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at $983,292.26. This represents a 46.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares of the company’s stock, valued at $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,467 shares of company stock worth $21,915,445. Company insiders own 1.66% of the company’s stock.

CarMax Price Performance

Shares of KMX opened at $71.29 on Friday. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The company has a market capitalization of $10.96 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The firm has a 50-day simple moving average of $80.87 and a 200-day simple moving average of $79.50. 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 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 business had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Mizuho increased their target price on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Stephens assumed coverage on CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 target price on the stock. Evercore ISI dropped their target price on CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a report on Tuesday, March 11th. Finally, Truist Financial upped their price objective on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.45.

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.