Allspring Global Investments Holdings LLC Sells 4,519 Shares of CarMax, Inc. (NYSE:KMX)

Allspring Global Investments Holdings LLC lowered its position in CarMax, Inc. (NYSE:KMX) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,020 shares of the company’s stock after selling 4,519 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in CarMax were worth $4,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in CarMax by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,690,606 shares of the company’s stock valued at $1,706,790,000 after acquiring an additional 303,973 shares during the period. BlackRock Inc. increased its holdings in CarMax by 1.8% in the first quarter. BlackRock Inc. now owns 10,633,886 shares of the company’s stock valued at $683,546,000 after purchasing an additional 184,104 shares during the period. Akre Capital Management LLC raised its position in CarMax by 0.7% during the 1st quarter. Akre Capital Management LLC now owns 7,339,952 shares of the company’s stock worth $708,159,000 after purchasing an additional 49,780 shares during the last quarter. State Street Corp raised its position in CarMax by 3.2% during the 2nd quarter. State Street Corp now owns 6,220,212 shares of the company’s stock worth $520,632,000 after purchasing an additional 193,111 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in CarMax by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 5,548,673 shares of the company’s stock worth $392,458,000 after buying an additional 210,440 shares during the period.

CarMax Price Performance

Shares of NYSE KMX opened at $68.34 on Friday. The firm has a market capitalization of $10.76 billion, a P/E ratio of 22.55, a P/E/G ratio of 1.09 and a beta of 1.61. The firm’s 50-day moving average price is $78.42 and its 200-day moving average price is $72.03. 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, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.13). The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.76 billion. CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Equities research analysts anticipate that CarMax, Inc. will post 3.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KMX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Monday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of CarMax in a research note on Monday, April 8th. Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of CarMax in a research report on Tuesday. Evercore ISI dropped their target price on shares of CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a report on Friday, April 12th. Finally, Robert W. Baird decreased their price target on CarMax from $88.00 to $84.00 and set an “outperform” rating for the company in a report on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $77.42.

Insider Transactions at CarMax

In related news, VP Jill A. Livesay sold 14,199 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares of the company’s stock, valued at approximately $642,830.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Diane L. Cafritz sold 2,730 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total transaction of $192,574.20. Following the transaction, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $357,849.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jill A. Livesay sold 14,199 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares in the company, valued at $642,830.52. The disclosure for this sale can be found here. Insiders sold a total of 38,929 shares of company stock valued at $2,740,901 over the last three months. Corporate insiders own 1.66% of the company’s stock.

About CarMax

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.