Cerity Partners LLC Acquires 1,336 Shares of CarMax, Inc. (NYSE:KMX)

Cerity Partners LLC raised its holdings in shares of CarMax, Inc. (NYSE:KMX) by 19.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,333 shares of the company’s stock after purchasing an additional 1,336 shares during the period. Cerity Partners LLC’s holdings in CarMax were worth $640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KMX. ProVise Management Group LLC raised its position in shares of CarMax by 31.5% in the 3rd quarter. ProVise Management Group LLC now owns 58,701 shares of the company’s stock worth $4,152,000 after acquiring an additional 14,052 shares in the last quarter. Montag A & Associates Inc. increased its position in CarMax by 61.6% during the 3rd quarter. Montag A & Associates Inc. now owns 49,985 shares of the company’s stock valued at $3,535,000 after buying an additional 19,056 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in CarMax by 8.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company’s stock valued at $18,076,000 after buying an additional 18,914 shares in the last quarter. Corient Private Wealth LLC increased its position in CarMax by 6.9% during the 3rd quarter. Corient Private Wealth LLC now owns 934,259 shares of the company’s stock valued at $66,080,000 after buying an additional 60,604 shares in the last quarter. Finally, Invesco Ltd. increased its position in CarMax by 3.1% during the 3rd quarter. Invesco Ltd. now owns 2,938,541 shares of the company’s stock valued at $207,843,000 after buying an additional 88,488 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KMX shares. StockNews.com raised CarMax to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. cut their target price on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Monday, April 15th. Mizuho cut their target price on CarMax from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Truist Financial cut their target price on CarMax from $75.00 to $72.00 and set a “hold” rating on the stock in a research note on Friday, April 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $83.00 target price on shares of CarMax in a research note on Monday, April 8th. 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 company’s stock. According to data from MarketBeat, CarMax presently has an average rating of “Hold” and a consensus target price of $77.42.

CarMax Price Performance

NYSE:KMX opened at $69.71 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The business’s 50-day simple moving average is $78.18 and its two-hundred day simple moving average is $72.12. The stock has a market cap of $10.97 billion, a PE ratio of 23.01, a P/E/G ratio of 1.13 and a beta of 1.61. CarMax, Inc. has a 52 week low of $59.66 and a 52 week high of $88.22.

CarMax (NYSE:KMX) last issued its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a return on equity of 7.26% and a net margin of 1.81%. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period last year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, analysts forecast that CarMax, Inc. will post 3.3 EPS for the current fiscal year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $355,515.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Diane L. Cafritz sold 22,000 shares of CarMax stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares of the company’s stock, valued at $355,515.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jill A. Livesay sold 14,199 shares of CarMax stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $70.89, for a total value of $1,006,567.11. Following the completion of the sale, the vice president now directly owns 9,068 shares in the company, valued at $642,830.52. The disclosure for this sale can be found here. Insiders own 1.66% of the company’s stock.

CarMax Company Profile

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.