Principal Financial Group Inc. Has $513.28 Million Stock Position in CarMax, Inc. (NYSE:KMX)

Principal Financial Group Inc. lowered its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,587,294 shares of the company's stock after selling 2,004,003 shares during the quarter. Principal Financial Group Inc. owned about 4.31% of CarMax worth $513,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in shares of CarMax by 10.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after purchasing an additional 307 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of CarMax by 36.6% during the fourth quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock worth $426,000 after purchasing an additional 1,396 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its position in shares of CarMax by 128.6% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 8,793 shares of the company's stock worth $719,000 after buying an additional 4,947 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of CarMax by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock worth $4,726,000 after buying an additional 2,078 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of CarMax by 12.6% in the first quarter. GAMMA Investing LLC now owns 6,620 shares of the company's stock valued at $516,000 after buying an additional 742 shares in the last quarter.

Insider Transactions at CarMax

In other news, Director Mitchell D. Steenrod bought 1,300 shares of CarMax stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, with a total value of $85,137.00. Following the purchase, the director directly owned 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction 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 approximately $196,308.56. This trade represents a 35.66% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

KMX has been the subject of several analyst reports. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and issued a $92.00 price objective on shares of CarMax in a research report on Monday, June 23rd. Morgan Stanley initiated coverage on CarMax in a research note on Tuesday. They set an "overweight" rating and a $80.00 target price for the company. Mizuho cut their price target on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Cfra Research raised CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.45.

CarMax Stock Performance

NYSE:KMX traded down $1.64 during trading hours on Friday, reaching $69.94. 1,313,519 shares of the stock were exchanged, compared to its average volume of 2,395,192. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The firm has a 50 day simple moving average of $66.18 and a 200-day simple moving average of $74.38. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25. The stock has a market capitalization of $10.50 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.16 and a beta of 1.38.

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