Argent Trust Co Grows Position in CarMax, Inc. (NYSE:KMX)

Argent Trust Co raised its holdings in CarMax, Inc. (NYSE:KMX) by 11.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 34,200 shares of the company’s stock after acquiring an additional 3,434 shares during the period. Argent Trust Co’s holdings in CarMax were worth $2,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in CarMax by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after buying an additional 282,519 shares during the period. Norges Bank bought a new stake in shares of CarMax during the 4th quarter valued at $423,187,000. Geode Capital Management LLC lifted its holdings in CarMax by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,710,267 shares of the company’s stock worth $302,564,000 after purchasing an additional 47,058 shares in the last quarter. Invesco Ltd. boosted its position in shares of CarMax by 1.0% in the fourth quarter. Invesco Ltd. now owns 2,729,965 shares of the company’s stock valued at $223,202,000 after acquiring an additional 27,716 shares during the period. Finally, First Pacific Advisors LP grew its stake in CarMax by 0.6% during the fourth quarter. First Pacific Advisors LP now owns 2,397,062 shares of the company’s stock valued at $195,984,000 after acquiring an additional 13,487 shares in the last quarter.

CarMax Stock Performance

NYSE:KMX opened at $66.64 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. CarMax, Inc. has a fifty-two week low of $63.23 and a fifty-two week high of $91.25. The firm has a market cap of $10.25 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. The business has a 50 day moving average price of $78.93 and a 200-day moving average price of $79.20.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, April 10th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.08). CarMax had a net margin of 1.77% and a return on equity of 7.49%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the company earned $0.32 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Enrique N. Mayor-Mora sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $81.43, for a total value of $407,150.00. Following the completion of the sale, the chief financial officer now directly owns 20,260 shares of the company’s stock, valued at approximately $1,649,771.80. This trade represents a 19.79 % decrease in their position. 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 dated Tuesday, January 28th. The shares were sold at an average price of $84.58, for a total transaction of $411,820.02. Following the sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. The trade was a 95.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,878 shares of company stock valued at $1,872,699 over the last ninety days. 1.66% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on KMX. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. Mizuho lifted their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Truist Financial raised their price target on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. Evercore ISI cut their price objective on CarMax from $107.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, March 11th. Finally, Stephens upgraded shares of CarMax from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, CarMax presently has a consensus rating of “Hold” and an average target price of $90.64.

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.