Nexus Investment Management Inc. grew its holdings in shares of CarMax, Inc (NYSE:KMX) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,100 shares of the company’s stock after buying an additional 3,375 shares during the quarter. CarMax accounts for about 3.5% of Nexus Investment Management Inc.’s holdings, making the stock its 13th biggest position. Nexus Investment Management Inc. owned approximately 0.19% of CarMax worth $20,268,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of KMX. CWM LLC raised its position in CarMax by 266.0% in the third quarter. CWM LLC now owns 1,442 shares of the company’s stock worth $108,000 after acquiring an additional 1,048 shares during the period. Hutchinson Capital Management CA bought a new stake in CarMax in the third quarter worth about $7,789,000. Douglass Winthrop Advisors LLC raised its position in CarMax by 12.3% in the third quarter. Douglass Winthrop Advisors LLC now owns 457,689 shares of the company’s stock worth $34,176,000 after acquiring an additional 50,060 shares during the period. AXA raised its position in CarMax by 104.5% in the third quarter. AXA now owns 141,851 shares of the company’s stock worth $10,592,000 after acquiring an additional 72,500 shares during the period. Finally, Credit Suisse AG raised its position in CarMax by 11.6% in the third quarter. Credit Suisse AG now owns 196,708 shares of the company’s stock worth $14,688,000 after acquiring an additional 20,419 shares during the period.
Several analysts have commented on KMX shares. Buckingham Research raised shares of CarMax from a “neutral” rating to a “buy” rating in a research report on Monday, January 7th. Wedbush set a $87.00 price objective on shares of CarMax and gave the stock a “buy” rating in a research report on Thursday, September 27th. Wolfe Research started coverage on shares of CarMax in a research report on Tuesday, October 2nd. They issued a “peer perform” rating on the stock. Robert W. Baird raised shares of CarMax from a “neutral” rating to an “outperform” rating in a research report on Thursday, September 27th. Finally, Royal Bank of Canada lowered their price target on shares of CarMax to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $82.71.
In related news, SVP Jon G. Daniels sold 16,325 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $70.88, for a total transaction of $1,157,116.00. Following the completion of the transaction, the senior vice president now owns 16,325 shares of the company’s stock, valued at $1,157,116. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.97% of the stock is currently owned by insiders.
NYSE:KMX traded up $0.10 during mid-day trading on Monday, hitting $65.09. 16,843 shares of the stock traded hands, compared to its average volume of 1,576,175. The stock has a market cap of $11.16 billion, a P/E ratio of 17.58, a P/E/G ratio of 0.99 and a beta of 1.46. CarMax, Inc has a 12-month low of $55.24 and a 12-month high of $81.67. The company has a current ratio of 2.50, a quick ratio of 0.52 and a debt-to-equity ratio of 3.93.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Friday, December 21st. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.33 billion. CarMax had a net margin of 4.30% and a return on equity of 23.26%. CarMax’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities analysts forecast that CarMax, Inc will post 4.73 earnings per share for the current fiscal year.
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CarMax Company Profile
CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles; vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions; and extended protection plans to customers at the time of sale.
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