First Trust Advisors LP lowered its position in CarMax Inc. (NYSE:KMX) by 70.0% during the second quarter, Holdings Channel reports. The fund owned 27,158 shares of the company’s stock after selling 63,410 shares during the period. First Trust Advisors LP’s holdings in CarMax were worth $1,332,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in KMX. Morningstar Investment Services LLC increased its stake in CarMax by 9.3% in the second quarter. Morningstar Investment Services LLC now owns 139,376 shares of the company’s stock worth $6,922,000 after buying an additional 11,820 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of CarMax by 17.6% in the second quarter. BB&T Securities LLC now owns 131,158 shares of the company’s stock worth $6,430,000 after buying an additional 19,663 shares during the period. Commonwealth Equity Services Inc boosted its stake in shares of CarMax by 19.5% in the second quarter. Commonwealth Equity Services Inc now owns 11,340 shares of the company’s stock worth $556,000 after buying an additional 1,852 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of CarMax by 16.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 296,698 shares of the company’s stock worth $14,547,000 after buying an additional 42,684 shares during the period. Finally, Calvert Investment Management Inc. boosted its stake in shares of CarMax by 9.4% in the second quarter. Calvert Investment Management Inc. now owns 12,453 shares of the company’s stock worth $611,000 after buying an additional 1,073 shares during the period.
CarMax Inc. (NYSE:KMX) traded up 2.30% during midday trading on Friday, reaching $53.37. 1,100,921 shares of the company traded hands. The firm’s 50 day moving average price is $57.53 and its 200 day moving average price is $53.64. CarMax Inc. has a 12 month low of $41.25 and a 12 month high of $60.81. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 17.35 and a beta of 1.46.
CarMax (NYSE:KMX) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.11 billion. CarMax had a net margin of 3.95% and a return on equity of 20.92%. CarMax’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. On average, analysts expect that CarMax Inc. will post $3.28 earnings per share for the current year.
A number of analysts recently weighed in on KMX shares. Buckingham Research cut shares of CarMax from a “buy” rating to a “neutral” rating and upped their price target for the stock from $59.00 to $63.00 in a research report on Friday, September 9th. They noted that the move was a valuation call. Vetr cut shares of CarMax from a “buy” rating to a “hold” rating and set a $57.52 price target for the company. in a research report on Monday, September 12th. Goldman Sachs Group Inc. set a $63.00 price target on shares of CarMax and gave the stock a “buy” rating in a research report on Monday, September 19th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and set a $60.00 price target on shares of CarMax in a research report on Tuesday, June 7th. Finally, Wedbush reaffirmed a “hold” rating and set a $44.00 price target on shares of CarMax in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $62.39.
In related news, EVP Eric M. Margolin sold 2,000 shares of CarMax stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $50.75, for a total value of $101,500.00. Following the transaction, the executive vice president now owns 34,303 shares in the company, valued at approximately $1,740,877.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jon G. Daniels sold 10,000 shares of CarMax stock in a transaction on Friday, July 8th. The stock was sold at an average price of $51.00, for a total transaction of $510,000.00. Following the completion of the transaction, the senior vice president now owns 23,967 shares in the company, valued at approximately $1,222,317. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
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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