Intrinsic Value Partners LLC Lowers Position in CarMax, Inc. (NYSE:KMX)

Intrinsic Value Partners LLC cut its stake in CarMax, Inc. (NYSE:KMX) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,725 shares of the company’s stock after selling 300 shares during the period. CarMax accounts for approximately 1.0% of Intrinsic Value Partners LLC’s portfolio, making the stock its 25th largest position. Intrinsic Value Partners LLC’s holdings in CarMax were worth $959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hickory Asset Management Inc. purchased a new stake in CarMax in the fourth quarter worth about $510,000. V Square Quantitative Management LLC lifted its holdings in shares of CarMax by 9.3% during the fourth quarter. V Square Quantitative Management LLC now owns 7,986 shares of the company’s stock valued at $653,000 after purchasing an additional 678 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of CarMax during the fourth quarter valued at approximately $240,000. Asset Management One Co. Ltd. lifted its holdings in shares of CarMax by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 58,575 shares of the company’s stock valued at $4,907,000 after purchasing an additional 391 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of CarMax by 0.3% during the fourth quarter. Van ECK Associates Corp now owns 73,906 shares of the company’s stock valued at $6,042,000 after purchasing an additional 191 shares during the last quarter.

Insider Activity at CarMax

In other CarMax news, SVP Jon G. Daniels sold 10,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $85.30, for a total transaction of $853,000.00. Following the completion of the transaction, the senior vice president now owns 995 shares of the company’s stock, valued at $84,873.50. This represents a 90.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Nash sold 120,513 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Evercore ISI upgraded shares of CarMax from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $90.00 to $110.00 in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on shares of CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. StockNews.com raised shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Finally, Truist Financial raised their price target on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, CarMax currently has a consensus rating of “Hold” and a consensus price target of $87.50.

CarMax Stock Up 1.5 %

KMX opened at $88.91 on Friday. The company has a debt-to-equity ratio of 2.92, a quick ratio of 0.55 and a current ratio of 2.30. CarMax, Inc. has a fifty-two week low of $65.83 and a fifty-two week high of $91.25. The firm’s fifty day moving average is $83.38 and its 200 day moving average is $79.87. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.70 and a beta of 1.72.

CarMax (NYSE:KMX) last released its earnings results on Thursday, December 19th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same quarter in the previous year, the company earned $0.52 EPS. CarMax’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that CarMax, Inc. will post 3.22 earnings per share for the current fiscal year.

CarMax 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.