Hsbc Holdings PLC Trims Stake in CarMax, Inc. $KMX

Hsbc Holdings PLC reduced its stake in CarMax, Inc. (NYSE:KMX) by 91.5% during the fourth quarter, Holdings Channel.com reports. 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 filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. World Investment Advisors lifted its stake in shares of CarMax by 1.5% during the 4th quarter. World Investment Advisors now owns 111,013 shares of the company’s stock valued at $4,290,000 after buying an additional 1,643 shares in the last quarter. Midway Capital Research & Management purchased a new stake in shares of CarMax during the 4th quarter worth approximately $1,625,000. Framtiden Holdings Management Co LLC bought a new position in CarMax during the fourth quarter valued at $20,866,000. Van Diest Capital LLC bought a new position in shares of CarMax in the 4th quarter valued at about $226,000. Finally, Alberta Investment Management Corp bought a new stake in shares of CarMax in the 4th quarter valued at approximately $4,326,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KMX. Morgan Stanley lifted their price target on shares of CarMax from $35.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 23rd. Stephens upgraded CarMax from an “equal weight” rating to an “overweight” rating and set a $66.00 target price on the stock in a research note on Thursday, June 18th. Wall Street Zen upgraded CarMax from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Barclays upped their price target on shares of CarMax from $31.00 to $37.00 and gave the stock an “underweight” rating in a report on Thursday, June 18th. Finally, Bank of America lifted their price objective on shares of CarMax from $40.00 to $45.00 and gave the company an “underperform” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $47.73.

Insiders Place Their Bets

In other CarMax news, CEO Keith Barr purchased 9,400 shares of the stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the transaction, the chief executive officer owned 33,375 shares of the company’s stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter J. Bensen purchased 2,500 shares of the stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $52.20 per share, with a total value of $130,500.00. Following the transaction, the director directly owned 24,796 shares in the company, valued at approximately $1,294,351.20. This trade represents a 11.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 13,900 shares of company stock worth $735,574 in the last three months. Corporate insiders own 1.01% of the company’s stock.

CarMax Price Performance

Shares of KMX stock opened at $54.80 on Tuesday. CarMax, Inc. has a twelve month low of $30.26 and a twelve month high of $66.23. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87. The stock has a fifty day simple moving average of $46.26 and a two-hundred day simple moving average of $44.05. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 35.82, a P/E/G ratio of 1.72 and a beta of 1.17.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $0.96 by $0.35. The firm had revenue of $8.01 billion for 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%.The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 earnings per share. On average, analysts predict that CarMax, Inc. will post 2.7 EPS for the current fiscal year.

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.