Gagnon Securities LLC Raises Position in CarMax, Inc. (NYSE:KMX)

Gagnon Securities LLC raised its stake in CarMax, Inc. (NYSE:KMX) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 159,147 shares of the company’s stock after acquiring an additional 321 shares during the period. CarMax makes up 2.6% of Gagnon Securities LLC’s portfolio, making the stock its 16th largest holding. Gagnon Securities LLC owned approximately 0.10% of CarMax worth $13,012,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp increased its stake 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 in the last quarter. Janus Henderson Group PLC raised 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 acquiring an additional 28,466 shares during the period. Geode Capital Management LLC raised 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 acquiring an additional 14,903 shares during the period. FMR LLC raised its position in shares of CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock valued at $137,180,000 after buying an additional 1,713,379 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of CarMax by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,510,325 shares of the company’s stock valued at $116,869,000 after buying an additional 11,865 shares during the last quarter.

Insider Activity at CarMax

In related news, EVP Mohammad Shamim sold 10,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $83.77, for a total transaction of $837,700.00. Following the sale, the executive vice president now owns 11,738 shares in the company, valued at $983,292.26. This represents a 46.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Nash sold 120,513 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total value of $10,031,502.12. Following the completion of the transaction, the chief executive officer now owns 181,683 shares in the company, valued at approximately $15,123,292.92. The trade was a 39.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,467 shares of company stock worth $21,915,445 in the last ninety days. 1.66% of the stock is owned by company insiders.

CarMax Price Performance

CarMax stock opened at $85.64 on Friday. The business’s 50-day simple moving average is $83.10 and its 200 day simple moving average is $79.58. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.66 and a beta of 1.71. CarMax, Inc. has a 12-month low of $65.83 and a 12-month 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 released its quarterly earnings data 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. The business had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. CarMax’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, research analysts anticipate that CarMax, Inc. will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer restated an “outperform” rating and set a $105.00 price objective on shares of CarMax in a research report on Friday, October 4th. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Wedbush reiterated an “outperform” rating and issued a $95.00 price target on shares of CarMax in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Finally, Mizuho increased their price objective on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.17.

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.