Principal Securities Inc. Acquires New Shares in CarMax, Inc. (NYSE:KMX)

Principal Securities Inc. purchased a new position in CarMax, Inc. (NYSE:KMX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 54,169 shares of the company’s stock, valued at approximately $4,157,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its position in shares of CarMax by 153.3% in the fourth quarter. Allworth Financial LP now owns 342 shares of the company’s stock worth $26,000 after buying an additional 207 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of CarMax by 1,081.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 437 shares of the company’s stock worth $34,000 after purchasing an additional 400 shares during the last quarter. Mendota Financial Group LLC acquired a new position in shares of CarMax during the 4th quarter worth about $37,000. MCF Advisors LLC acquired a new position in shares of CarMax during the 4th quarter worth about $46,000. Finally, Lindbrook Capital LLC lifted its position in shares of CarMax by 32.8% during the 4th quarter. Lindbrook Capital LLC now owns 628 shares of the company’s stock worth $48,000 after purchasing an additional 155 shares during the last quarter.

Analyst Upgrades and Downgrades

KMX has been the subject of several research analyst reports. Needham & Company LLC cut their price objective on CarMax from $99.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 12th. JPMorgan Chase & Co. lowered their price target on CarMax from $60.00 to $55.00 and set an “underweight” rating on the stock in a research note on Monday, April 15th. Evercore ISI lowered their price target on CarMax from $85.00 to $74.00 and set an “in-line” rating on the stock in a research note on Friday, April 12th. Bank of America boosted their price target on CarMax from $44.00 to $50.00 and gave the company an “underperform” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $83.00 price target on shares of CarMax in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $77.42.

CarMax Trading Up 0.9 %

KMX stock opened at $71.70 on Friday. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The firm has a market cap of $11.28 billion, a P/E ratio of 23.66, a P/E/G ratio of 1.19 and a beta of 1.64. The business’s 50 day moving average is $76.95 and its 200-day moving average is $72.29. The company has a current ratio of 2.26, a quick ratio of 0.67 and a debt-to-equity ratio of 2.96.

CarMax (NYSE:KMX) last released its quarterly earnings data on Thursday, April 11th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts anticipate that CarMax, Inc. will post 3.27 earnings per share for the current fiscal year.

Insider Transactions at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total value of $1,067,702.68. Following the transaction, the executive vice president now directly owns 6,977 shares of the company’s stock, valued at approximately $485,110.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.66% of the stock is owned by company insiders.

About CarMax

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.