New York Life Investment Management LLC Reduces Holdings in CarMax, Inc. (NYSE:KMX)

New York Life Investment Management LLC decreased its holdings in shares of CarMax, Inc. (NYSE:KMX) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 37,239 shares of the company’s stock after selling 1,800 shares during the period. New York Life Investment Management LLC’s holdings in CarMax were worth $3,045,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of CarMax during the third quarter worth about $32,000. True Wealth Design LLC grew its stake in shares of CarMax by 4,844.4% during the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock worth $34,000 after acquiring an additional 436 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of CarMax by 104.8% during the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company’s stock worth $35,000 after acquiring an additional 217 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company’s stock worth $51,000 after purchasing an additional 249 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of CarMax by 91.9% during the third quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock worth $57,000 after purchasing an additional 353 shares during the period.

CarMax Stock Up 1.2 %

CarMax stock opened at $82.95 on Friday. The stock has a market capitalization of $12.76 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 1.67 and a beta of 1.72. CarMax, Inc. has a 12 month low of $65.83 and a 12 month high of $91.25. The business has a 50 day simple moving average of $83.27 and a 200-day simple moving average of $80.37. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

CarMax (NYSE:KMX) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.05 billion. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. On average, analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity

In related news, CEO William D. Nash sold 120,513 shares of the business’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 transaction of $10,031,502.12. Following the completion of the sale, the chief executive officer now directly owns 181,683 shares in the company, valued at approximately $15,123,292.92. The trade was a 39.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Tyler Tuite sold 4,869 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the sale, the senior vice president now owns 227 shares of the company’s stock, valued at $19,199.66. The trade was a 95.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,467 shares of company stock worth $21,915,445 over the last three months. 1.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

KMX has been the subject of a number of research reports. Needham & Company LLC lifted their target price on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. StockNews.com raised CarMax from a “sell” rating to a “hold” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on CarMax from $70.00 to $72.00 and gave the stock an “underweight” rating in a report on Friday, December 20th. Truist Financial lifted their target price on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, December 20th. Finally, Evercore ISI raised CarMax from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $90.00 to $110.00 in a report on Thursday, February 6th. Two 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 data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.91.

About CarMax

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.