Harvey Investment Co. LLC Trims Stock Position in CarMax, Inc. (NYSE:KMX)

Harvey Investment Co. LLC cut its holdings in shares of CarMax, Inc. (NYSE:KMX) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 65,438 shares of the company’s stock after selling 1,485 shares during the period. Harvey Investment Co. LLC’s holdings in CarMax were worth $5,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of CarMax during the 2nd quarter worth approximately $814,000. Czech National Bank boosted its holdings in CarMax by 6.0% during the third quarter. Czech National Bank now owns 31,794 shares of the company’s stock worth $2,460,000 after buying an additional 1,802 shares in the last quarter. GAMMA Investing LLC boosted its holdings in CarMax by 38.5% during the third quarter. GAMMA Investing LLC now owns 5,138 shares of the company’s stock worth $398,000 after buying an additional 1,429 shares in the last quarter. Atomi Financial Group Inc. grew its position in CarMax by 27.3% during the third quarter. Atomi Financial Group Inc. now owns 3,606 shares of the company’s stock valued at $279,000 after buying an additional 774 shares during the period. Finally, CWM LLC increased its holdings in CarMax by 30.2% in the third quarter. CWM LLC now owns 23,150 shares of the company’s stock valued at $1,791,000 after buying an additional 5,374 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KMX shares. Truist Financial increased their target price on shares of CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Needham & Company LLC increased their price target on CarMax from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada boosted their price objective on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and set a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Finally, Evercore ISI raised shares of CarMax from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $90.00 to $110.00 in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $87.50.

CarMax Price Performance

Shares of NYSE KMX opened at $86.47 on Friday. The firm has a 50-day simple moving average of $83.09 and a 200-day simple moving average of $79.65. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.66 and a beta of 1.72. CarMax, Inc. has a 52 week low of $65.83 and a 52 week high of $91.25.

CarMax (NYSE:KMX) last released 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 company had revenue of $6.22 billion during the quarter, compared to the consensus estimate of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. CarMax’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. On average, equities analysts predict that CarMax, Inc. will post 3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CarMax news, CEO William D. Nash sold 120,513 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jon G. Daniels sold 10,000 shares of CarMax stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $85.30, for a total value of $853,000.00. Following the transaction, the senior vice president now owns 995 shares in the company, valued at approximately $84,873.50. This represents a 90.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is owned by corporate insiders.

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.