Proficio Capital Partners LLC Acquires New Stake in CarMax, Inc. (NYSE:KMX)

Proficio Capital Partners LLC purchased a new position in CarMax, Inc. (NYSE:KMX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,572 shares of the company’s stock, valued at approximately $2,173,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KMX. FMR LLC increased its position in CarMax by 2,883.1% in the third quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after buying an additional 1,713,379 shares in the last quarter. Holocene Advisors LP increased its position in CarMax by 740.2% in the third quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock worth $73,274,000 after buying an additional 834,232 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in CarMax by 41.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock worth $114,471,000 after buying an additional 436,342 shares in the last quarter. Principal Financial Group Inc. increased its position in CarMax by 3.4% in the fourth 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 in the last quarter. Finally, Ieq Capital LLC increased its position in CarMax by 603.2% in the fourth quarter. Ieq Capital LLC now owns 110,691 shares of the company’s stock worth $9,050,000 after buying an additional 94,950 shares in the last quarter.

CarMax Price Performance

Shares of CarMax stock opened at $79.05 on Thursday. The stock has a 50 day moving average of $83.03 and a 200 day moving average of $80.40. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The firm has a market cap of $12.16 billion, a PE ratio of 26.80, a PEG ratio of 1.67 and a beta of 1.72. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating 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 analyst estimates of $6.05 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, research analysts expect that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity

In other news, CEO William D. Nash sold 120,513 shares of the firm’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 value of $10,031,502.12. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares of the company’s stock, valued at $15,123,292.92. This trade represents a 39.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $81.43, 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 $1,649,771.80. The trade was a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,467 shares of company stock valued at $21,915,445 in the last ninety days. Insiders own 1.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stephens assumed coverage on CarMax in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $86.00 price target for the company. Royal Bank of Canada upped their price objective on CarMax from $92.00 to $99.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Mizuho upped their price objective on CarMax from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, December 20th. Truist Financial upped their price objective on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Finally, Evercore ISI raised CarMax from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $90.00 to $110.00 in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.91.

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.