Sumitomo Mitsui Trust Group Inc. Has $26.97 Million Stock Holdings in CarMax, Inc. (NYSE:KMX)

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of CarMax, Inc. (NYSE:KMX) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,159 shares of the company’s stock after selling 8,221 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in CarMax were worth $26,973,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of CarMax in the 4th quarter valued at $423,187,000. Kovitz Investment Group Partners LLC grew its position in CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock valued at $539,213,000 after acquiring an additional 5,122,850 shares during the last quarter. AQR Capital Management LLC grew its position in CarMax by 82.9% in the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company’s stock valued at $114,465,000 after acquiring an additional 634,390 shares during the last quarter. GAMMA Investing LLC raised its stake in CarMax by 8,675.6% during the first quarter. GAMMA Investing LLC now owns 515,830 shares of the company’s stock worth $40,193,000 after acquiring an additional 509,952 shares in the last quarter. Finally, ThornTree Capital Partners LP bought a new position in shares of CarMax in the fourth quarter worth about $35,612,000.

CarMax Stock Performance

NYSE KMX opened at $71.56 on Thursday. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.15 and a beta of 1.38. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a twelve month low of $61.34 and a twelve month high of $91.25. The stock has a fifty day simple moving average of $66.10 and a 200 day simple moving average of $74.49.

CarMax (NYSE:KMX) last released its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that CarMax, Inc. will post 3.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Mitchell D. Steenrod bought 1,300 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average price of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director owned 33,577 shares of the company’s stock, valued at $2,198,957.73. This trade represents a 4.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KMX. Cfra Research raised shares of CarMax to a “strong-buy” rating in a report on Thursday, April 10th. Wedbush reaffirmed an “outperform” rating and set a $90.00 target price on shares of CarMax in a research note on Wednesday, June 18th. Truist Financial increased their price target on CarMax from $72.00 to $74.00 and gave the company a “hold” rating in a research note on Monday, June 23rd. Robert W. Baird cut their price objective on CarMax from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Finally, Evercore ISI lowered their target price on CarMax from $85.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CarMax presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.64.

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.