Ballentine Partners LLC Purchases New Stake in CarMax, Inc. (NYSE:KMX)

Ballentine Partners LLC acquired a new position in CarMax, Inc. (NYSE:KMX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,656 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in CarMax in the third quarter worth $32,000. True Wealth Design LLC raised its stake in shares of CarMax by 4,844.4% in the third quarter. True Wealth Design LLC now owns 445 shares of the company’s stock valued at $34,000 after buying an additional 436 shares during the period. Larson Financial Group LLC lifted its position in shares of CarMax by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 737 shares of the company’s stock valued at $57,000 after buying an additional 353 shares during the last quarter. Finally, ST Germain D J Co. Inc. bought a new position in shares of CarMax during the 4th quarter worth $58,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KMX. 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. Needham & Company LLC boosted their price target on shares of CarMax from $90.00 to $98.00 and gave the company a “buy” 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 report on Friday, December 20th. Truist Financial increased their target price on CarMax from $72.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their price target on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research report on Friday, December 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $85.17.

Insider Activity

In other news, CEO William D. Nash sold 120,513 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $83.24, for a total transaction of $10,031,502.12. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Enrique N. Mayor-Mora sold 5,000 shares of CarMax stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $81.43, for a total transaction of $407,150.00. Following the completion of the transaction, the chief financial officer now directly owns 20,260 shares in the company, valued at approximately $1,649,771.80. The trade was a 19.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,598 shares of company stock valued at $21,503,625. Corporate insiders own 1.66% of the company’s stock.

CarMax Stock Up 0.9 %

KMX opened at $82.72 on Friday. The business’s fifty day simple moving average is $82.35 and its 200 day simple moving average is $79.37. CarMax, Inc. has a 52 week low of $65.83 and a 52 week 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 stock has a market cap of $12.72 billion, a PE ratio of 28.04, a P/E/G ratio of 1.49 and a beta of 1.71.

CarMax (NYSE:KMX) last announced its quarterly earnings data 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 return on equity of 7.49% and a net margin of 1.77%. The company had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.05 billion. During the same period last year, the firm posted $0.52 EPS. CarMax’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts expect that CarMax, Inc. will post 3.19 earnings per share 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.