Nomura Holdings Inc. Has $379,000 Holdings in CarMax, Inc. $KMX

Key Points

• Nomura Holdings Inc. sold 8,985 shares of CarMax, reducing its stake by 64.9%, and now holds 4,864 shares valued at approximately $379,000 according to its latest SEC filing.
• Several institutional investors, including Janus Henderson Group PLC and Baird Financial Group Inc., increased their stakes in CarMax during recent quarters, indicating ongoing interest in the stock.
• Wall Street analysts have a mostly positive outlook on CarMax, with a consensus rating of "Moderate Buy" and an average target price of $81.50, reflecting expectations of future growth.

Nomura Holdings Inc. lowered its position in CarMax, Inc. (NYSE:KMX - Free Report) by 64.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,864 shares of the company's stock after selling 8,985 shares during the period. Nomura Holdings Inc.'s holdings in CarMax were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KMX. Fuller & Thaler Asset Management Inc. raised its stake in shares of CarMax by 626.1% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 903,024 shares of the company's stock valued at $70,364,000 after acquiring an additional 778,652 shares during the last quarter. GAMMA Investing LLC raised its position in CarMax by 8,675.6% in the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after purchasing an additional 509,952 shares during the last quarter. ThornTree Capital Partners LP bought a new position in CarMax in the 4th quarter worth approximately $35,612,000. Nuveen LLC bought a new position in CarMax in the 1st quarter worth approximately $33,872,000. Finally, Wellington Management Group LLP raised its position in CarMax by 34.2% in the 1st quarter. Wellington Management Group LLP now owns 815,461 shares of the company's stock worth $63,541,000 after purchasing an additional 207,665 shares during the last quarter.

Insider Activity

In other news, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at $196,308.56. The trade was a 35.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

KMX has been the subject of several research analyst reports. Evercore ISI dropped their price objective on shares of CarMax from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upgraded shares of CarMax from an "underweight" rating to a "neutral" rating and dropped their price objective for the stock from $65.00 to $58.00 in a research report on Wednesday, August 6th. Needham & Company LLC restated a "buy" rating and issued a $92.00 price objective on shares of CarMax in a research report on Monday, June 23rd. Royal Bank Of Canada boosted their price objective on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Finally, Wedbush restated an "outperform" rating and issued a $84.00 price objective on shares of CarMax in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

CarMax Trading Down 3.2%

Shares of KMX stock traded down $1.94 on Wednesday, hitting $59.45. The stock had a trading volume of 1,227,473 shares, compared to its average volume of 2,905,653. CarMax, Inc. has a twelve month low of $54.53 and a twelve month high of $91.25. The firm has a market cap of $8.92 billion, a P/E ratio of 16.42, a PEG ratio of 1.00 and a beta of 1.35. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The company has a fifty day moving average price of $61.00 and a two-hundred day moving average price of $66.74.

CarMax (NYSE:KMX - Get Free Report) last announced its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The firm's revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current fiscal 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.