Principal Securities Inc. Purchases 2,623 Shares of CarMax, Inc. (NYSE:KMX)

Principal Securities Inc. boosted its position in shares of CarMax, Inc. (NYSE:KMX) by 3.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,700 shares of the company’s stock after buying an additional 2,623 shares during the quarter. Principal Securities Inc.’s holdings in CarMax were worth $5,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Community Trust NA bought a new stake in CarMax during the 2nd quarter valued at $29,000. Quarry LP raised its holdings in CarMax by 78.6% in the 2nd quarter. Quarry LP now owns 418 shares of the company’s stock worth $31,000 after purchasing an additional 184 shares in the last quarter. Blue Trust Inc. raised its holdings in CarMax by 134.1% in the 2nd quarter. Blue Trust Inc. now owns 501 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares in the last quarter. Studio Investment Management LLC raised its holdings in CarMax by 176.7% in the 2nd quarter. Studio Investment Management LLC now owns 523 shares of the company’s stock worth $38,000 after purchasing an additional 334 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in CarMax in the 1st quarter worth $55,000.

Analyst Ratings Changes

KMX has been the subject of several research reports. StockNews.com upgraded shares of CarMax to a “sell” rating in a report on Friday, July 26th. Truist Financial upped their price objective on shares of CarMax from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Evercore ISI upped their price objective on shares of CarMax from $76.00 to $79.00 and gave the stock an “in-line” rating in a report on Thursday, October 17th. BNP Paribas raised shares of CarMax to a “strong sell” rating in a research report on Friday, September 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $95.00 target price on shares of CarMax in a research report on Wednesday, October 16th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $79.73.

CarMax Stock Performance

Shares of KMX stock opened at $72.30 on Friday. CarMax, Inc. has a one year low of $61.73 and a one year high of $88.22. The company’s 50-day moving average is $76.59 and its 200 day moving average is $74.88. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.51 and a beta of 1.68. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.68 and a current ratio of 2.25.

CarMax (NYSE:KMX) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). CarMax had a net margin of 1.61% and a return on equity of 6.83%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.83 billion. During the same period last year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts expect that CarMax, Inc. will post 2.99 EPS for the current fiscal year.

About CarMax

CarMax, Inc, through its subsidiaries, operates as a retailer of used vehicles and related products in the United States. It operates in two segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; used vehicle auctions; extended protection plans to customers at the time of sale; and reconditioning and vehicle repair services.