TIAA CREF Investment Management LLC Buys 255,310 Shares of CarMax, Inc (KMX)
TIAA CREF Investment Management LLC increased its stake in CarMax, Inc (NYSE:KMX) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,288,889 shares of the company’s stock after purchasing an additional 255,310 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in CarMax were worth $146,786,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in CarMax by 27.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,380 shares of the company’s stock worth $217,000 after purchasing an additional 736 shares during the period. Logan Capital Management Inc. raised its holdings in CarMax by 6.3% in the 4th quarter. Logan Capital Management Inc. now owns 13,881 shares of the company’s stock worth $891,000 after purchasing an additional 821 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in CarMax by 1.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 60,369 shares of the company’s stock worth $4,577,000 after purchasing an additional 867 shares during the period. Howland Capital Management LLC raised its holdings in CarMax by 0.3% in the 4th quarter. Howland Capital Management LLC now owns 308,499 shares of the company’s stock worth $19,784,000 after purchasing an additional 980 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in CarMax by 3.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 27,675 shares of the company’s stock worth $2,098,000 after purchasing an additional 1,000 shares during the period.
A number of equities analysts recently commented on the company. Wedbush set a $75.00 target price on CarMax and gave the stock a “buy” rating in a report on Friday. Credit Suisse Group set a $78.00 target price on CarMax and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research raised CarMax from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday, November 22nd. Susquehanna Bancshares set a $68.00 target price on CarMax and gave the stock a “hold” rating in a report on Monday, January 1st. Finally, Wood & Company raised CarMax from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $88.00 in a report on Thursday, January 18th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $79.71.
CarMax (NYSE:KMX) last posted its quarterly earnings results on Thursday, December 21st. The company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $3.97 billion. CarMax had a net margin of 4.07% and a return on equity of 21.77%. CarMax’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. equities research analysts predict that CarMax, Inc will post 3.82 EPS for the current year.
In other news, EVP Eric M. Margolin sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $71.78, for a total transaction of $1,435,600.00. Following the completion of the transaction, the executive vice president now owns 41,051 shares in the company, valued at $2,946,640.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas J. Folliard sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $72.40, for a total value of $579,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,584 shares of company stock valued at $4,065,664. Company insiders own 1.70% of the company’s stock.
CarMax Company Profile
CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.
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