Bank of New York Mellon Corp Cuts Stock Holdings in CarMax, Inc. (NYSE:KMX)

Bank of New York Mellon Corp cut its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 891,500 shares of the company's stock after selling 26,326 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of CarMax worth $69,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in KMX. Ameriflex Group Inc. bought a new stake in CarMax in the fourth quarter worth $53,000. Colonial Trust Co SC raised its stake in shares of CarMax by 2,310.0% in the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the last quarter. Blue Trust Inc. raised its stake in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after purchasing an additional 296 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of CarMax by 38.4% in the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after purchasing an additional 260 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in shares of CarMax by 123.8% in the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock worth $81,000 after purchasing an additional 551 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on KMX shares. Evercore ISI reduced their price objective on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Mizuho dropped their price objective on CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Truist Financial upped their price objective on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, June 23rd. Wedbush reissued an "outperform" rating and set a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Finally, Robert W. Baird dropped their price target on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $84.45.

Insiders Place Their Bets

In related news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction dated 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 transaction, the executive vice president owned 2,779 shares in the company, valued at $196,308.56. The trade was a 35.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mitchell D. Steenrod acquired 1,300 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the acquisition, the director owned 33,577 shares in the company, valued at $2,198,957.73. The trade was a 4.03% increase in their position. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.

CarMax Trading Down 3.3%

KMX traded down $2.14 during trading on Tuesday, hitting $63.06. 2,881,179 shares of the stock were exchanged, compared to its average volume of 2,411,305. The firm has a 50 day simple moving average of $66.46 and a 200 day simple moving average of $73.56. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 17.42, a P/E/G ratio of 1.04 and a beta of 1.38. CarMax, Inc. has a 1 year low of $61.34 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39.

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

CarMax 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.