Cibc World Markets Corp Raises Stock Position in CarMax, Inc. (NYSE:KMX)

Cibc World Markets Corp raised its stake in CarMax, Inc. (NYSE:KMX) by 15.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 24,438 shares of the company’s stock after buying an additional 3,252 shares during the quarter. Cibc World Markets Corp’s holdings in CarMax were worth $1,998,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lakewood Asset Management LLC increased its stake in shares of CarMax by 0.6% during the 4th quarter. Lakewood Asset Management LLC now owns 21,742 shares of the company’s stock worth $1,778,000 after purchasing an additional 135 shares in the last quarter. Arete Wealth Advisors LLC increased its stake in shares of CarMax by 4.3% during the 3rd quarter. Arete Wealth Advisors LLC now owns 3,438 shares of the company’s stock worth $266,000 after purchasing an additional 141 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of CarMax by 3.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,682 shares of the company’s stock worth $383,000 after purchasing an additional 141 shares in the last quarter. Timber Creek Capital Management LLC increased its stake in shares of CarMax by 0.3% during the 4th quarter. Timber Creek Capital Management LLC now owns 57,601 shares of the company’s stock worth $4,709,000 after purchasing an additional 145 shares in the last quarter. Finally, Chemistry Wealth Management LLC increased its stake in shares of CarMax by 1.4% during the 4th quarter. Chemistry Wealth Management LLC now owns 12,218 shares of the company’s stock worth $999,000 after purchasing an additional 164 shares in the last quarter.

Insider Buying and Selling

In related news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. This represents a 19.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was 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 approximately $765,288. This trade represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 264,467 shares of company stock valued at $21,915,445. Company insiders own 1.66% of the company’s stock.

CarMax Stock Down 0.6 %

Shares of KMX opened at $71.29 on Friday. The firm has a market cap of $10.96 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The company’s fifty day moving average is $80.87 and its two-hundred day moving average is $79.50. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. 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 earnings results on Thursday, December 19th. The company reported $0.81 earnings per share 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 in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Royal Bank of Canada raised 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 raised their target price on shares of CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Evercore ISI decreased their target price on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. raised 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.45.

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.