Hsbc Holdings PLC Sells 289,001 Shares of CarMax, Inc. $KMX

Hsbc Holdings PLC cut its holdings in CarMax, Inc. (NYSE:KMX) by 91.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,848 shares of the company’s stock after selling 289,001 shares during the quarter. Hsbc Holdings PLC’s holdings in CarMax were worth $1,047,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CarMax by 0.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company’s stock valued at $2,446,000 after purchasing an additional 173 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company’s stock worth $419,000 after purchasing an additional 161 shares in the last quarter. Empowered Funds LLC grew its stake in shares of CarMax by 12.5% in the 1st quarter. Empowered Funds LLC now owns 5,273 shares of the company’s stock worth $411,000 after buying an additional 585 shares during the last quarter. Intech Investment Management LLC increased its position in CarMax by 61.7% during the 1st quarter. Intech Investment Management LLC now owns 19,143 shares of the company’s stock valued at $1,492,000 after buying an additional 7,307 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in CarMax during the 1st quarter valued at approximately $727,000.

Analysts Set New Price Targets

KMX has been the topic of several analyst reports. Robert W. Baird boosted their target price on CarMax from $48.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Royal Bank Of Canada raised their price target on CarMax from $41.00 to $45.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. Argus raised CarMax to a “hold” rating in a research report on Thursday, April 16th. Mizuho upped their price target on shares of CarMax from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, Morgan Stanley increased their price objective on shares of CarMax from $35.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, CarMax currently has an average rating of “Reduce” and an average price target of $47.73.

CarMax Trading Up 2.5%

CarMax stock opened at $54.80 on Tuesday. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.70 and a quick ratio of 0.82. CarMax, Inc. has a one year low of $30.26 and a one year high of $66.23. The stock has a market capitalization of $7.78 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The business’s fifty day moving average is $46.26 and its 200 day moving average is $44.05.

CarMax (NYSE:KMX) last issued its earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.CarMax’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 EPS. On average, sell-side analysts predict that CarMax, Inc. will post 2.7 EPS for the current year.

Insider Transactions at CarMax

In related news, Director Sona Chawla bought 2,000 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $53.39 per share, with a total value of $106,780.00. Following the transaction, the director owned 21,702 shares in the company, valued at approximately $1,158,669.78. This trade represents a 10.15% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter J. Bensen bought 2,500 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were bought at an average price of $52.20 per share, with a total value of $130,500.00. Following the completion of the purchase, the director owned 24,796 shares in the company, valued at approximately $1,294,351.20. The trade was a 11.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 13,900 shares of company stock worth $735,574 over the last three months. 1.01% of the stock is currently owned by company insiders.

CarMax Company Profile

CarMax (NYSE: KMX) is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company’s inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax’s retail locations or browse the company’s online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.