Cooke & Bieler LP Acquires 69,409 Shares of CarMax, Inc. (NYSE:KMX)

Cooke & Bieler LP raised its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,344,650 shares of the company's stock after acquiring an additional 69,409 shares during the quarter. CarMax makes up 1.6% of Cooke & Bieler LP's portfolio, making the stock its 17th largest holding. Cooke & Bieler LP owned about 1.48% of CarMax worth $179,928,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMX. Norges Bank acquired a new stake in shares of CarMax in the fourth quarter valued at $99,730,000. Wellington Management Group LLP increased its stake in shares of CarMax by 29.4% in the first quarter. Wellington Management Group LLP now owns 3,548,930 shares of the company's stock valued at $342,400,000 after buying an additional 805,438 shares in the last quarter. American Century Companies Inc. increased its stake in shares of CarMax by 674.3% in the third quarter. American Century Companies Inc. now owns 806,716 shares of the company's stock valued at $57,059,000 after buying an additional 702,526 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of CarMax by 2,311.1% in the third quarter. Los Angeles Capital Management LLC now owns 603,659 shares of the company's stock valued at $42,697,000 after buying an additional 578,622 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of CarMax by 119.1% in the first quarter. Two Sigma Investments LP now owns 769,249 shares of the company's stock valued at $49,447,000 after buying an additional 418,078 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KMX shares. Bank of America raised their target price on CarMax from $44.00 to $50.00 and gave the company an "underperform" rating in a research note on Thursday, February 29th. Truist Financial lowered their price objective on CarMax from $75.00 to $72.00 and set a "hold" rating for the company in a research report on Friday, April 12th. Wedbush reiterated an "outperform" rating and issued a $90.00 price objective on shares of CarMax in a research report on Tuesday, April 16th. Evercore ISI lowered their price objective on CarMax from $85.00 to $74.00 and set an "in-line" rating for the company in a research report on Friday, April 12th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $83.00 price objective on shares of CarMax in a research report on Monday, April 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $77.42.

CarMax Trading Up 0.6 %

KMX traded up $0.43 during midday trading on Friday, reaching $68.34. 1,824,702 shares of the company were exchanged, compared to its average volume of 2,773,667. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.67 and a current ratio of 2.26. CarMax, Inc. has a one year low of $59.66 and a one year high of $88.22. The stock has a market capitalization of $10.76 billion, a P/E ratio of 22.55, a PEG ratio of 1.09 and a beta of 1.61. The stock's 50-day simple moving average is $78.42 and its 200 day simple moving average is $72.08.

CarMax (NYSE:KMX - Get Free Report) last issued its earnings results on Thursday, April 11th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.45 by ($0.13). CarMax had a return on equity of 7.26% and a net margin of 1.81%. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter last year, the business posted $0.44 EPS. CarMax's quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts forecast that CarMax, Inc. will post 3.3 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Jill A. Livesay sold 14,199 shares of CarMax stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares in the company, valued at approximately $642,830.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jill A. Livesay sold 14,199 shares of CarMax stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $70.89, for a total transaction of $1,006,567.11. Following the transaction, the vice president now owns 9,068 shares in the company, valued at approximately $642,830.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diane L. Cafritz sold 2,730 shares of CarMax stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $70.54, for a total value of $192,574.20. Following the transaction, the executive vice president now owns 5,073 shares in the company, valued at approximately $357,849.42. The disclosure for this sale can be found here. Insiders have sold 38,929 shares of company stock worth $2,740,901 in the last 90 days. Corporate insiders own 1.66% of the company's stock.

CarMax Profile

CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.