Truist Financial Corp Decreases Stock Holdings in CarMax, Inc. (NYSE:KMX)

Truist Financial Corp trimmed its stake in shares of CarMax, Inc. (NYSE:KMX) by 11.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,958 shares of the company’s stock after selling 9,487 shares during the period. Truist Financial Corp’s holdings in CarMax were worth $6,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. CIBC Asset Management Inc raised its holdings in shares of CarMax by 4.2% during the fourth quarter. CIBC Asset Management Inc now owns 23,808 shares of the company’s stock valued at $1,947,000 after purchasing an additional 968 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of CarMax by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock valued at $702,425,000 after purchasing an additional 282,519 shares during the last quarter. Americana Partners LLC purchased a new position in shares of CarMax during the fourth quarter valued at approximately $283,000. Capital Performance Advisors LLP grew its position in CarMax by 124.3% during the fourth quarter. Capital Performance Advisors LLP now owns 2,894 shares of the company’s stock valued at $237,000 after buying an additional 1,604 shares during the period. Finally, Keystone Financial Services grew its position in CarMax by 1.7% during the fourth quarter. Keystone Financial Services now owns 12,097 shares of the company’s stock valued at $989,000 after buying an additional 206 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KMX shares. Evercore ISI upgraded shares of CarMax from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $90.00 to $110.00 in a research report on Thursday, February 6th. Truist Financial boosted their target price on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Royal Bank of Canada boosted their target price on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Mizuho boosted their target price on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.50.

CarMax Price Performance

Shares of NYSE:KMX opened at $82.62 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. The firm has a fifty day moving average price of $83.39 and a 200 day moving average price of $80.11. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The firm has a market cap of $12.71 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 1.67 and a beta of 1.72.

CarMax (NYSE:KMX) last issued its 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. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The firm had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. CarMax’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William D. Nash sold 120,513 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This represents a 39.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jill A. Livesay sold 13,009 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is owned by 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.