Principal Financial Group Inc. Sells 159,317 Shares of CarMax, Inc. (NYSE:KMX)

Principal Financial Group Inc. decreased its position in CarMax, Inc. (NYSE:KMX - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,728,627 shares of the company's stock after selling 159,317 shares during the quarter. Principal Financial Group Inc. owned 6.16% of CarMax worth $746,575,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. ProVise Management Group LLC boosted its holdings in shares of CarMax by 31.5% in the 3rd quarter. ProVise Management Group LLC now owns 58,701 shares of the company's stock worth $4,152,000 after acquiring an additional 14,052 shares in the last quarter. Montag A & Associates Inc. lifted its position in CarMax by 61.6% during the 3rd quarter. Montag A & Associates Inc. now owns 49,985 shares of the company's stock worth $3,535,000 after buying an additional 19,056 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in CarMax by 8.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 235,544 shares of the company's stock worth $18,076,000 after acquiring an additional 18,914 shares during the last quarter. Corient Private Wealth LLC grew its holdings in CarMax by 6.9% during the 3rd quarter. Corient Private Wealth LLC now owns 934,259 shares of the company's stock worth $66,080,000 after acquiring an additional 60,604 shares during the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in shares of CarMax in the fourth quarter worth about $228,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on KMX shares. Oppenheimer reissued an "outperform" rating and issued a $105.00 price target on shares of CarMax in a report on Tuesday, April 9th. JPMorgan Chase & Co. cut their price target on CarMax from $60.00 to $55.00 and set an "underweight" rating on the stock in a research note on Monday, April 15th. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of CarMax in a research report on Tuesday, April 16th. Needham & Company LLC dropped their price target on shares of CarMax from $99.00 to $91.00 and set a "buy" rating for the company in a research note on Friday, April 12th. Finally, Truist Financial reduced their price objective on shares of CarMax from $75.00 to $72.00 and set a "hold" rating on the stock in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $77.42.

Insider Activity at CarMax

In other news, EVP Diane L. Cafritz sold 15,356 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $69.53, for a total transaction of $1,067,702.68. Following the sale, the executive vice president now directly owns 6,977 shares of the company's stock, valued at approximately $485,110.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.66% of the stock is currently owned by corporate insiders.

CarMax Stock Up 4.4 %

Shares of NYSE:KMX traded up $3.19 during midday trading on Monday, reaching $74.90. The company had a trading volume of 3,374,685 shares, compared to its average volume of 2,027,832. The business's 50 day moving average price is $76.95 and its 200 day moving average price is $72.45. CarMax, Inc. has a 1-year low of $59.66 and a 1-year high of $88.22. The company has a quick ratio of 0.67, a current ratio of 2.26 and a debt-to-equity ratio of 2.96. The stock has a market cap of $11.79 billion, a PE ratio of 24.68, a P/E/G ratio of 1.20 and a beta of 1.64.

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 the consensus estimate of $0.45 by ($0.13). CarMax had a net margin of 1.81% and a return on equity of 7.26%. The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the company earned $0.44 EPS. CarMax's quarterly revenue was down 1.7% on a year-over-year basis. Research analysts forecast that CarMax, Inc. will post 3.27 EPS for the current fiscal year.

About CarMax

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.

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