Inlet Private Wealth LLC Sells 4,300 Shares of CarMax, Inc. (NYSE:KMX)

Inlet Private Wealth LLC reduced its stake in shares of CarMax, Inc. (NYSE:KMX) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,930 shares of the company’s stock after selling 4,300 shares during the period. Inlet Private Wealth LLC’s holdings in CarMax were worth $4,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KMX. FMR LLC raised its position in shares of CarMax by 2,883.1% during the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after acquiring an additional 1,713,379 shares during the last quarter. Holocene Advisors LP increased its position in CarMax by 740.2% during the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after purchasing an additional 834,232 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in CarMax by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after purchasing an additional 436,342 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of CarMax in the 3rd quarter worth approximately $6,942,000. Finally, Neo Ivy Capital Management bought a new stake in shares of CarMax in the 3rd quarter valued at $3,934,000.

Insiders Place Their Bets

In other CarMax news, CEO William D. Nash sold 120,513 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $15,123,292.92. This represents a 39.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jill A. Livesay sold 13,009 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.00, for a total value of $1,053,729.00. Following the completion of the transaction, the vice president now owns 9,448 shares of the company’s stock, valued at approximately $765,288. The trade was a 57.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KMX shares. Evercore ISI lifted their price objective on CarMax from $83.00 to $85.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Truist Financial lifted their target price on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Oppenheimer restated an “outperform” rating and set a $105.00 price target on shares of CarMax in a report on Friday, October 4th. Mizuho lifted their price objective on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Finally, Stephens initiated coverage on shares of CarMax in a research note on Thursday, December 5th. They set an “equal weight” rating and a $86.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.17.

CarMax Stock Down 2.2 %

NYSE KMX opened at $85.64 on Friday. The business’s 50-day moving average is $83.10 and its 200 day moving average is $79.58. The stock has a market capitalization of $13.17 billion, a PE ratio of 29.03, a PEG ratio of 1.66 and a beta of 1.71. 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, Inc. has a 1 year low of $65.83 and a 1 year high of $91.25.

CarMax (NYSE:KMX) last posted its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (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 in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that CarMax, Inc. will post 3.25 earnings per share for the current year.

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.