Swiss National Bank Reduces Stake in CarMax, Inc. (NYSE:KMX)

Swiss National Bank cut its holdings in shares of CarMax, Inc. (NYSE:KMX) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 496,100 shares of the company’s stock after selling 12,900 shares during the quarter. Swiss National Bank’s holdings in CarMax were worth $38,071,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of CarMax by 674.3% during the third quarter. American Century Companies Inc. now owns 806,716 shares of the company’s stock worth $57,059,000 after purchasing an additional 702,526 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of CarMax by 2,311.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company’s stock valued at $42,697,000 after buying an additional 578,622 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of CarMax by 38.6% in the third quarter. Envestnet Asset Management Inc. now owns 1,161,514 shares of the company’s stock worth $82,154,000 after buying an additional 323,652 shares during the last quarter. Barclays PLC boosted its stake in shares of CarMax by 95.7% in the third quarter. Barclays PLC now owns 589,759 shares of the company’s stock worth $41,713,000 after buying an additional 288,350 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in CarMax by 87.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 474,317 shares of the company’s stock worth $33,548,000 after acquiring an additional 221,588 shares during the period.

CarMax Price Performance

NYSE:KMX opened at $69.23 on Wednesday. The stock has a 50 day moving average of $77.54 and a two-hundred day moving average of $72.20. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The firm has a market cap of $10.90 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 1.15 and a beta of 1.64. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, April 11th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.13). The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. On average, analysts expect that CarMax, Inc. will post 3.27 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at $485,110.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KMX. JPMorgan Chase & Co. decreased their price target on CarMax from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Monday, April 15th. Robert W. Baird lowered their price target on shares of CarMax from $88.00 to $84.00 and set an “outperform” rating on the stock in a report on Friday, April 12th. Bank of America raised their price target on shares of CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research report on Thursday, February 29th. Truist Financial decreased their price objective on shares of CarMax from $75.00 to $72.00 and set a “hold” rating for the company in a research report on Friday, April 12th. Finally, StockNews.com upgraded CarMax to a “sell” rating in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $77.42.

CarMax Company Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.