Bank of New York Mellon Corp Sells 26,326 Shares of CarMax, Inc. (NYSE:KMX)

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

Several other large investors also recently modified their holdings of KMX. Ameriflex Group Inc. acquired a new position in shares of CarMax during the 4th quarter worth approximately $53,000. Colonial Trust Co SC increased its holdings 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 valued at $59,000 after purchasing an additional 693 shares during the last quarter. Blue Trust Inc. grew its stake in CarMax by 49.2% in 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 during the last quarter. Parallel Advisors LLC increased its stake in shares of CarMax by 38.4% during 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 period. Finally, True Wealth Design LLC increased its position in CarMax by 123.8% during the 4th quarter. True Wealth Design LLC now owns 996 shares of the company's stock worth $81,000 after buying an additional 551 shares during the period.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore ISI cut their target price on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of CarMax in a research note on Wednesday, June 18th. 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. Truist Financial upped their price objective on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Finally, Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CarMax currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.45.

Insider Activity at CarMax

In related news, Director Mitchell D. Steenrod bought 1,300 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director owned 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jon G. Daniels sold 1,540 shares of the business'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 transaction, the executive vice president directly owned 2,779 shares in the company, valued at approximately $196,308.56. This represents a 35.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

CarMax Stock Down 3.8%

NYSE:KMX opened at $64.37 on Friday. 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 current ratio of 2.39 and a quick ratio of 0.80. The firm's 50-day moving average price is $66.46 and its 200-day moving average price is $73.72. The company has a market capitalization of $9.66 billion, a PE ratio of 17.78, a P/E/G ratio of 1.08 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 2.09% and a return on equity of 9.11%. CarMax's revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.97 EPS. On average, equities analysts predict that CarMax, Inc. will post 3.23 EPS 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.

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