Meriwether Wealth & Planning LLC Makes New $1.14 Million Investment in CarMax, Inc. (NYSE:KMX)

Meriwether Wealth & Planning LLC acquired a new position in shares of CarMax, Inc. (NYSE:KMX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,890 shares of the company’s stock, valued at approximately $1,136,000. CarMax makes up about 0.8% of Meriwether Wealth & Planning LLC’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of KMX. Graypoint LLC acquired a new position in shares of CarMax in the third quarter worth about $202,000. CWA Asset Management Group LLC acquired a new position in shares of CarMax in the third quarter worth about $2,499,000. Verdence Capital Advisors LLC lifted its stake in shares of CarMax by 5.3% in the third quarter. Verdence Capital Advisors LLC now owns 10,285 shares of the company’s stock worth $796,000 after acquiring an additional 514 shares in the last quarter. Assetmark Inc. lifted its stake in shares of CarMax by 9,900.0% in the third quarter. Assetmark Inc. now owns 1,400 shares of the company’s stock worth $108,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Klingman & Associates LLC lifted its stake in shares of CarMax by 11.7% in the third quarter. Klingman & Associates LLC now owns 3,110 shares of the company’s stock worth $241,000 after acquiring an additional 325 shares in the last quarter.

Insiders Place Their Bets

In other CarMax news, SVP Tyler Tuite sold 4,869 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $84.58, for a total value of $411,820.02. Following the completion of the sale, the senior vice president now directly owns 227 shares in the company, valued at $19,199.66. This represents a 95.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jill A. Livesay sold 13,009 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $81.00, for a total value of $1,053,729.00. Following the completion of the sale, the vice president now owns 9,448 shares of the company’s stock, valued at $765,288. This trade represents a 57.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,467 shares of company stock worth $21,915,445 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on KMX. Evercore ISI upgraded CarMax from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $90.00 to $110.00 in a research note on Thursday, February 6th. Royal Bank of Canada upped their price objective on CarMax from $92.00 to $99.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on CarMax from $70.00 to $72.00 and gave the company an “underweight” rating in a research note on Friday, December 20th. Mizuho upped their price objective on CarMax from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Finally, Needham & Company LLC upped their price objective on CarMax from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, CarMax currently has an average rating of “Hold” and an average target price of $90.91.

CarMax Stock Performance

Shares of KMX stock opened at $76.75 on Monday. CarMax, Inc. has a 12-month low of $65.83 and a 12-month high of $91.25. The firm has a market capitalization of $11.80 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 1.67 and a beta of 1.76. The business has a 50 day simple moving average of $82.74 and a 200 day simple moving average of $80.35. The company has a debt-to-equity ratio of 2.92, a current ratio of 2.30 and a quick ratio of 0.55.

CarMax (NYSE:KMX) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.19. CarMax had a return on equity of 7.49% and a net margin of 1.77%. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same period in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current 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.