Envestnet Portfolio Solutions Inc. Has $1.50 Million Position in CarMax, Inc. (NYSE:KMX)

Envestnet Portfolio Solutions Inc. lowered its holdings in CarMax, Inc. (NYSE:KMX) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,296 shares of the company’s stock after selling 3,094 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CarMax were worth $1,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after buying an additional 282,519 shares during the last quarter. State Street Corp lifted its holdings in CarMax by 0.6% during the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock valued at $479,228,000 after purchasing an additional 36,959 shares during the last quarter. Janus Henderson Group PLC boosted its position in CarMax by 0.6% during the third quarter. Janus Henderson Group PLC now owns 4,642,235 shares of the company’s stock worth $359,216,000 after purchasing an additional 28,466 shares during the period. Geode Capital Management LLC boosted its position in CarMax by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,663,209 shares of the company’s stock worth $282,479,000 after purchasing an additional 14,903 shares during the period. Finally, First Pacific Advisors LP increased its holdings in shares of CarMax by 0.6% in the fourth quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company’s stock valued at $195,984,000 after purchasing an additional 13,487 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on KMX. Truist Financial increased their price target on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their price target 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. 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. 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 report on Monday, February 3rd. Finally, Mizuho boosted their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, CarMax currently has a consensus rating of “Hold” and a consensus target price of $90.45.

CarMax Price Performance

CarMax stock opened at $71.29 on Friday. The stock has a fifty day moving average of $80.87 and a 200-day moving average of $79.50. The stock has a market capitalization of $10.96 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. 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, Inc. has a 52 week low of $65.83 and a 52 week high of $91.25.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The firm had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Jill A. Livesay sold 13,009 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $765,288. The trade was a 57.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Tyler Tuite sold 4,869 shares of CarMax stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now owns 227 shares in the company, valued at approximately $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock worth $21,915,445 in the last three months. 1.66% of the stock is owned by corporate insiders.

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.