Handelsbanken Fonder AB Boosts Stake in CarMax, Inc. (NYSE:KMX)

Handelsbanken Fonder AB boosted its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 347.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 147,768 shares of the company's stock after purchasing an additional 114,772 shares during the quarter. Handelsbanken Fonder AB owned about 0.09% of CarMax worth $11,340,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. CWM LLC increased its holdings in shares of CarMax by 17.6% during the fourth quarter. CWM LLC now owns 4,197 shares of the company's stock valued at $322,000 after acquiring an additional 628 shares in the last quarter. Strata Wealth Advisors LLC bought a new stake in shares of CarMax during the fourth quarter valued at approximately $2,133,000. Verdence Capital Advisors LLC increased its holdings in shares of CarMax by 15.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 11,113 shares of the company's stock valued at $853,000 after acquiring an additional 1,518 shares in the last quarter. Lindbrook Capital LLC boosted its position in shares of CarMax by 32.8% during the fourth quarter. Lindbrook Capital LLC now owns 628 shares of the company's stock valued at $48,000 after buying an additional 155 shares during the last quarter. Finally, abrdn plc boosted its position in shares of CarMax by 70.2% during the fourth quarter. abrdn plc now owns 66,217 shares of the company's stock valued at $5,081,000 after buying an additional 27,307 shares during the last quarter.

Insider Activity at CarMax

In related news, EVP Diane L. Cafritz sold 22,000 shares of the business's stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.08, for a total transaction of $1,541,760.00. Following the sale, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $355,515.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other CarMax news, EVP Diane L. Cafritz sold 22,000 shares of the company's stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.08, for a total value of $1,541,760.00. Following the transaction, the executive vice president now directly owns 5,073 shares in the company, valued at approximately $355,515.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jill A. Livesay sold 14,199 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $70.89, for a total value of $1,006,567.11. Following the sale, the vice president now owns 9,068 shares of the company's stock, valued at $642,830.52. The disclosure for this sale can be found here. 1.66% of the stock is currently owned by corporate insiders.

CarMax Stock Performance

Shares of NYSE:KMX traded up $0.58 during midday trading on Wednesday, reaching $70.27. 2,881,875 shares of the company traded hands, compared to its average volume of 2,015,906. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. CarMax, Inc. has a 12 month low of $59.66 and a 12 month high of $88.22. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The firm's fifty day moving average price is $78.13 and its two-hundred day moving average price is $72.11.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data 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 net margin of 1.81% and a return on equity of 7.26%. The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities analysts expect that CarMax, Inc. will post 3.3 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. StockNews.com raised CarMax to a "sell" rating in a research report on Monday. Evercore ISI cut their target price on CarMax from $85.00 to $74.00 and set an "in-line" rating on the stock in a research report on Friday, April 12th. Mizuho cut their target price on CarMax from $80.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, April 12th. Wedbush reaffirmed an "outperform" rating and set a $90.00 target price on shares of CarMax in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. cut their target price on CarMax from $60.00 to $55.00 and set an "underweight" rating on the stock in a research report on Monday, April 15th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, CarMax has a consensus rating of "Hold" and a consensus target price of $77.42.

CarMax Company 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.