Hedeker Wealth LLC decreased its stake in CarMax Inc. (NYSE:KMX) by 55.1% during the second quarter, Holdings Channel reports. The fund owned 18,911 shares of the company’s stock after selling 23,224 shares during the period. Hedeker Wealth LLC’s holdings in CarMax were worth $928,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Kovitz Investment Group Partners LLC purchased a new position in CarMax during the first quarter worth about $39,950,000. Abrams Bison Investments LLC boosted its position in CarMax by 31.6% in the first quarter. Abrams Bison Investments LLC now owns 2,858,787 shares of the company’s stock worth $146,084,000 after buying an additional 686,131 shares during the last quarter. Wellington Management Group LLP boosted its position in CarMax by 6.1% in the first quarter. Wellington Management Group LLP now owns 3,625,082 shares of the company’s stock worth $185,242,000 after buying an additional 206,898 shares during the last quarter. Legal & General Group Plc boosted its position in CarMax by 0.3% in the first quarter. Legal & General Group Plc now owns 910,718 shares of the company’s stock worth $46,534,000 after buying an additional 2,405 shares during the last quarter. Finally, Allen Investment Management LLC boosted its position in CarMax by 5.3% in the first quarter. Allen Investment Management LLC now owns 21,585 shares of the company’s stock worth $1,103,000 after buying an additional 1,093 shares during the last quarter.
CarMax Inc. (NYSE:KMX) traded down 0.50% on Friday, hitting $51.25. The company’s stock had a trading volume of 2,190,185 shares. The firm has a market cap of $9.75 billion, a price-to-earnings ratio of 16.66 and a beta of 1.42. The firm has a 50 day moving average of $55.52 and a 200 day moving average of $53.79. CarMax Inc. has a 12 month low of $41.25 and a 12 month high of $60.81.
CarMax (NYSE:KMX) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $0.88 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.88. The firm earned $4 billion during the quarter, compared to analyst estimates of $4.11 billion. CarMax had a return on equity of 20.92% and a net margin of 3.95%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. Equities research analysts forecast that CarMax Inc. will post $3.28 earnings per share for the current fiscal year.
A number of research firms have recently issued reports on KMX. Deutsche Bank AG upped their price objective on CarMax from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Wedbush reiterated a “neutral” rating and issued a $44.00 price objective on shares of CarMax in a report on Wednesday, July 20th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of CarMax in a report on Wednesday, June 22nd. Robert W. Baird upped their price objective on CarMax from $58.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, September 7th. Finally, Buckingham Research cut CarMax from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $59.00 to $63.00 in a report on Friday, September 9th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $62.01.
In other news, CEO Thomas J. Folliard sold 271,435 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $55.39, for a total transaction of $15,034,784.65. Following the completion of the transaction, the chief executive officer now owns 758,517 shares in the company, valued at $42,014,256.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas J. Folliard sold 221,827 shares of CarMax stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $55.48, for a total value of $12,306,961.96. Following the completion of the transaction, the chief executive officer now owns 758,517 shares of the company’s stock, valued at approximately $42,082,523.16. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
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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