Allspring Global Investments Holdings LLC Trims Stake in CarMax, Inc. (NYSE:KMX)

Allspring Global Investments Holdings LLC reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 6.8% during the 4th quarter, HoldingsChannel reports. The firm owned 7,319 shares of the company’s stock after selling 538 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CarMax were worth $594,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Creative Planning increased its holdings in shares of CarMax by 5.9% in the 3rd quarter. Creative Planning now owns 13,833 shares of the company’s stock valued at $1,070,000 after acquiring an additional 766 shares during the period. Blue Trust Inc. increased its holdings in shares of CarMax by 108.2% in the 3rd quarter. Blue Trust Inc. now owns 1,043 shares of the company’s stock valued at $76,000 after acquiring an additional 542 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of CarMax in the 3rd quarter valued at $223,000. Signaturefd LLC increased its holdings in shares of CarMax by 12.5% in the 3rd quarter. Signaturefd LLC now owns 1,545 shares of the company’s stock valued at $120,000 after acquiring an additional 172 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in shares of CarMax by 6.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 30,508 shares of the company’s stock valued at $2,361,000 after acquiring an additional 1,969 shares during the period.

CarMax Stock Performance

Shares of KMX opened at $82.82 on Tuesday. The stock has a 50-day moving average of $83.33 and a two-hundred day moving average of $80.20. CarMax, Inc. has a one year low of $65.83 and a one year high of $91.25. 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 stock has a market cap of $12.74 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.67 and a beta of 1.72.

CarMax (NYSE:KMX) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The company had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

Insiders Place Their Bets

In other CarMax news, SVP Jon G. Daniels sold 10,000 shares of CarMax stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $85.30, for a total transaction of $853,000.00. Following the completion of the transaction, the senior vice president now owns 995 shares in the company, valued at approximately $84,873.50. This trade represents a 90.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax 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 transaction, the chief financial officer now owns 20,260 shares of the company’s stock, valued at $1,649,771.80. The trade was a 19.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 264,467 shares of company stock valued at $21,915,445. 1.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

KMX has been the topic of a number of analyst reports. Stephens initiated coverage on CarMax in a report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target on the stock. Mizuho lifted their price target on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their price objective on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a research report on Friday, December 20th. Needham & Company LLC raised their price objective on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. 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, CarMax presently has a consensus rating of “Hold” and an average price target of $87.50.

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.