CarMax, Inc. (NYSE:KMX) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in CarMax, Inc. by 24.4%, holding approximately $9.85 million in shares after selling 40,881 shares in the first quarter.
• CarMax reported a $1.38 EPS for the last quarter, surpassing the consensus estimate and showing a 6.1% increase in revenue year-over-year, despite lower expectations.
• Analysts have given CarMax an average target price of $83.67, with two labeled as sell, three as hold, and nine as buy ratings recently.

Baillie Gifford & Co. lessened its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 24.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,428 shares of the company's stock after selling 40,881 shares during the period. Baillie Gifford & Co. owned 0.08% of CarMax worth $9,851,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Ameriflex Group Inc. purchased a new position in CarMax during the fourth quarter worth about $53,000. Colonial Trust Co SC lifted its stake in shares of CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after buying an additional 693 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after buying an additional 296 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of CarMax by 38.4% during the 1st quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after buying an additional 260 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of CarMax by 123.8% during the 4th quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after buying an additional 551 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wedbush restated an "outperform" rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Mizuho dropped their target price on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 price target on shares of CarMax in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.67.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of the transaction, the executive vice president directly owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

CarMax Stock Performance

Shares of CarMax stock traded down $0.12 during midday trading on Wednesday, hitting $58.95. The company had a trading volume of 1,021,956 shares, compared to its average volume of 2,932,068. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.97 and a beta of 1.38. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The company has a fifty day simple moving average of $65.19 and a 200 day simple moving average of $72.03. CarMax, Inc. has a 12-month low of $58.63 and a 12-month high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the company earned $0.97 EPS. CarMax's quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current fiscal 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.