Empower Advisory Group LLC Boosts Holdings in CarMax, Inc. (NYSE:KMX)

Empower Advisory Group LLC boosted its position in CarMax, Inc. (NYSE:KMX) by 8.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,278 shares of the company’s stock after purchasing an additional 331 shares during the quarter. Empower Advisory Group LLC’s holdings in CarMax were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of KMX. FMR LLC lifted its stake in CarMax by 2,883.1% in the 3rd quarter. FMR LLC now owns 1,772,808 shares of the company’s stock worth $137,180,000 after purchasing an additional 1,713,379 shares in the last quarter. Holocene Advisors LP raised its position in shares of CarMax by 740.2% during the 3rd quarter. Holocene Advisors LP now owns 946,931 shares of the company’s stock valued at $73,274,000 after buying an additional 834,232 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CarMax by 41.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,479,340 shares of the company’s stock valued at $114,471,000 after buying an additional 436,342 shares in the last quarter. Principal Financial Group Inc. raised its position 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 valued at $702,425,000 after buying an additional 282,519 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of CarMax during the 3rd quarter valued at $6,942,000.

Insider Activity

In other news, CEO William D. Nash sold 120,513 shares of CarMax 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 sale, the chief executive officer now owns 181,683 shares of the company’s stock, valued at approximately $15,123,292.92. The trade was a 39.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mohammad Shamim sold 10,000 shares of CarMax stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $83.77, for a total transaction of $837,700.00. Following the transaction, the executive vice president now directly owns 11,738 shares of the company’s stock, valued at approximately $983,292.26. This trade represents a 46.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 264,467 shares of company stock valued at $21,915,445. Corporate insiders own 1.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KMX. StockNews.com upgraded shares of CarMax from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Truist Financial increased their target price on shares of CarMax from $72.00 to $88.00 and gave the company a “hold” rating in a report on Friday, December 20th. Evercore ISI raised shares of CarMax from an “in-line” rating to an “outperform” rating and increased their target price for the company from $90.00 to $110.00 in a report on Thursday, February 6th. Mizuho increased their target price on shares of CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a report on Friday, December 20th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $87.50.

CarMax Price Performance

Shares of CarMax stock opened at $87.43 on Thursday. The firm has a market cap of $13.45 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 1.74 and a beta of 1.72. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. 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 company’s fifty day simple moving average is $83.48 and its two-hundred day simple moving average is $79.98.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. The business had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.05 billion. CarMax had a net margin of 1.77% and a return on equity of 7.49%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities analysts expect that CarMax, Inc. will post 3.22 EPS for the current 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.