King Luther Capital Management Corp Purchases 349 Shares of CarMax, Inc. (NYSE:KMX)

King Luther Capital Management Corp raised its position in shares of CarMax, Inc. (NYSE:KMX) by 0.6% in the fourth quarter, Holdings Channel reports. The firm owned 55,680 shares of the company’s stock after acquiring an additional 349 shares during the quarter. King Luther Capital Management Corp’s holdings in CarMax were worth $4,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. grew its stake in shares of CarMax by 9,900.0% in the third quarter. Assetmark Inc. now owns 1,400 shares of the company’s stock worth $108,000 after acquiring an additional 1,386 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of CarMax by 14.9% during the third quarter. Crossmark Global Holdings Inc. now owns 8,858 shares of the company’s stock valued at $685,000 after purchasing an additional 1,152 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of CarMax by 77.5% during the third quarter. Apollon Wealth Management LLC now owns 4,915 shares of the company’s stock valued at $380,000 after purchasing an additional 2,146 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of CarMax by 3.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 351,361 shares of the company’s stock valued at $27,188,000 after purchasing an additional 10,898 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of CarMax by 1.8% during the third quarter. Victory Capital Management Inc. now owns 52,929 shares of the company’s stock valued at $4,096,000 after purchasing an additional 923 shares during the last quarter.

CarMax Stock Performance

KMX opened at $72.55 on Thursday. The firm has a market cap of $11.16 billion, a P/E ratio of 24.59, a PEG ratio of 1.67 and a beta of 1.76. CarMax, Inc. has a 1-year low of $65.83 and a 1-year high of $91.25. The company has a 50 day simple moving average of $82.22 and a two-hundred day simple moving average of $80.15. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

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

Insiders Place Their Bets

In related news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Nash sold 120,513 shares of the company’s 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 transaction, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. This represents a 39.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,467 shares of company stock worth $21,915,445 over the last three months. 1.66% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Evercore ISI decreased their price objective on shares of CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Royal Bank of Canada boosted their price objective on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Needham & Company LLC upped their target price on shares of CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, CarMax currently 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.