Algert Global LLC Sells 21,734 Shares of CarMax, Inc. $KMX

Key Points

• Algert Global LLC reduced its stake in CarMax, Inc. by 30.7%, holding $3.83 million worth of shares after selling 21,734 during the first quarter.
• CarMax reported earnings of $1.38 per share for the last quarter, exceeding estimates by $0.20, with revenue reaching $7.55 billion.
• Analysts have assigned CarMax a consensus rating of "Moderate Buy" with an average price target of $81.50.

Algert Global LLC lowered its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 30.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,162 shares of the company's stock after selling 21,734 shares during the quarter. Algert Global LLC's holdings in CarMax were worth $3,831,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Redmond Asset Management LLC grew its position in shares of CarMax by 0.3% during the first quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock worth $3,959,000 after purchasing an additional 152 shares in the last quarter. Maia Wealth LLC grew its position in shares of CarMax by 0.6% during the first quarter. Maia Wealth LLC now owns 26,099 shares of the company's stock worth $2,034,000 after purchasing an additional 157 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of CarMax by 5.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after purchasing an additional 176 shares in the last quarter. Nicolet Advisory Services LLC grew its position in shares of CarMax by 6.3% during the first quarter. Nicolet Advisory Services LLC now owns 3,576 shares of the company's stock worth $279,000 after purchasing an additional 212 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of CarMax by 3.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,590 shares of the company's stock worth $513,000 after purchasing an additional 243 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KMX. Truist Financial increased their target price on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Royal Bank Of Canada lifted their target price on CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. JPMorgan Chase & Co. raised CarMax from an "underweight" rating to a "neutral" rating and reduced their target price for the stock from $65.00 to $58.00 in a report on Wednesday, August 6th. Mizuho reduced their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Finally, Stephens reaffirmed an "overweight" rating and issued a $81.00 target price on shares of CarMax in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, CarMax currently has an average rating of "Moderate Buy" and a consensus price target of $81.50.

CarMax Price Performance

Shares of NYSE KMX traded up $2.1260 during mid-day trading on Friday, hitting $60.0160. 1,811,819 shares of the company's stock traded hands, compared to its average volume of 2,813,410. The company has a market capitalization of $9.01 billion, a P/E ratio of 16.58, a PEG ratio of 0.94 and a beta of 1.36. CarMax, Inc. has a 1 year low of $54.53 and a 1 year high of $91.25. The company's 50-day moving average is $62.43 and its two-hundred day moving average is $69.00. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. On average, equities analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by insiders.

CarMax Company Profile

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.