Hickory Asset Management Inc. Takes Position in CarMax, Inc. (NYSE:KMX)

Hickory Asset Management Inc. acquired a new stake in CarMax, Inc. (NYSE:KMX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,235 shares of the company’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in shares of CarMax by 41.6% in the third quarter. Exchange Traded Concepts LLC now owns 7,212 shares of the company’s stock valued at $558,000 after purchasing an additional 2,118 shares during the period. Creative Planning raised its holdings in shares of CarMax by 5.9% in the third quarter. Creative Planning now owns 13,833 shares of the company’s stock worth $1,070,000 after acquiring an additional 766 shares during the last quarter. Good Life Advisors LLC acquired a new position in shares of CarMax in the third quarter worth $416,000. Global Retirement Partners LLC raised its holdings in shares of CarMax by 9.3% in the third quarter. Global Retirement Partners LLC now owns 15,287 shares of the company’s stock worth $1,183,000 after acquiring an additional 1,307 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of CarMax by 1.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,304 shares of the company’s stock worth $1,339,000 after acquiring an additional 298 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KMX. 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 note on Thursday, December 19th. Needham & Company LLC upped their target price on CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Truist Financial upped their target price on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. StockNews.com upgraded CarMax from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price target on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $87.50.

CarMax Stock Up 1.5 %

KMX opened at $88.91 on Friday. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55. The stock has a market cap of $13.67 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.70 and a beta of 1.72. The stock’s 50 day moving average price is $83.38 and its 200 day moving average price is $79.87.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period last year, the firm earned $0.52 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that CarMax, Inc. will post 3.22 earnings per share for the current year.

Insider Buying and Selling at CarMax

In other CarMax news, CEO William D. Nash sold 120,513 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. This trade represents a 39.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Tyler Tuite sold 4,869 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total value of $411,820.02. Following the transaction, the senior vice president now directly owns 227 shares of the company’s stock, valued at approximately $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,467 shares of company stock valued at $21,915,445. 1.66% of the stock is owned by corporate insiders.

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.