CarMax, Inc. (NYSE:KMX) Short Interest Update

CarMax, Inc. (NYSE:KMX) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 12,060,000 shares, a drop of 7.0% from the January 15th total of 12,970,000 shares. Approximately 7.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,870,000 shares, the days-to-cover ratio is currently 6.4 days.

Insider Buying and Selling

In other CarMax news, VP Jill A. Livesay sold 13,009 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total transaction of $1,053,729.00. Following the completion of the sale, the vice president now directly owns 9,448 shares in the company, valued at $765,288. The trade was a 57.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Nash sold 120,513 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.24, for a total value of $10,031,502.12. Following the sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. This represents a 39.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,467 shares of company stock worth $21,915,445. 1.66% of the stock is owned by corporate insiders.

Institutional Trading of CarMax

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of CarMax by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 8,591,297 shares of the company’s stock worth $702,425,000 after acquiring an additional 282,519 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of CarMax by 348.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company’s stock worth $539,213,000 after acquiring an additional 5,122,850 shares in the last quarter. State Street Corp raised its holdings in shares of CarMax by 0.6% during the 3rd quarter. State Street Corp now owns 6,193,174 shares of the company’s stock worth $479,228,000 after acquiring an additional 36,959 shares in the last quarter. Norges Bank purchased a new stake in shares of CarMax during the 4th quarter worth approximately $423,187,000. Finally, Janus Henderson Group PLC raised its holdings in shares of CarMax by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company’s stock worth $381,978,000 after acquiring an additional 29,715 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. 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 note on Thursday, December 19th. Mizuho boosted their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Needham & Company LLC boosted their price objective on CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Finally, Truist Financial boosted their price objective on CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, December 20th. Three 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.50.

CarMax Price Performance

NYSE KMX traded up $1.31 during trading hours on Monday, reaching $88.91. The company’s stock had a trading volume of 1,671,132 shares, compared to its average volume of 1,478,010. The firm’s 50-day moving average price is $83.41 and its 200-day moving average price is $79.85. The company has a quick ratio of 0.55, a current ratio of 2.30 and a debt-to-equity ratio of 2.92. CarMax has a 1 year low of $65.83 and a 1 year high of $91.25. The company has a market capitalization of $13.67 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.70 and a beta of 1.72.

CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The company had revenue of $6.22 billion for 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 firm’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. On average, equities research analysts predict that CarMax will post 3.22 EPS for the current fiscal year.

CarMax Company 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.