Brown Advisory Inc. Sells 938,184 Shares of CarMax, Inc. (NYSE:KMX)

Brown Advisory Inc. cut its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 84.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 179,265 shares of the company's stock after selling 938,184 shares during the quarter. Brown Advisory Inc. owned about 0.12% of CarMax worth $13,968,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of CarMax by 5.5% in the 1st 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. Parallel Advisors LLC lifted its position 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 acquiring an additional 260 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of CarMax by 49.2% in the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after acquiring an additional 296 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of CarMax by 2.7% during the first quarter. D.A. Davidson & CO. now owns 12,203 shares of the company's stock valued at $951,000 after purchasing an additional 325 shares during the last quarter. Finally, King Luther Capital Management Corp increased its stake in CarMax by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 55,680 shares of the company's stock worth $4,552,000 after purchasing an additional 349 shares in the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on KMX. JPMorgan Chase & Co. reduced their target price on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. Evercore ISI lowered their target price on CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $86.00 to $90.00 in a report on Wednesday, March 26th. Finally, Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, CarMax currently has an average rating of "Moderate Buy" and a consensus price target of $84.45.

Insider Activity

In related news, EVP Jon G. Daniels sold 1,540 shares of the company's 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 sale, the executive vice president 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mitchell D. Steenrod purchased 1,300 shares of the stock in a transaction dated Thursday, April 24th. The stock was bought at an average cost of $65.49 per share, with a total value of $85,137.00. Following the completion of the purchase, the director owned 33,577 shares in the company, valued at $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is owned by corporate insiders.

CarMax Stock Performance

KMX stock traded down $2.57 during midday trading on Friday, hitting $64.37. The stock had a trading volume of 3,030,288 shares, compared to its average volume of 2,407,082. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The stock has a 50-day simple moving average of $66.51 and a 200 day simple moving average of $73.86. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.08 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last posted its 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. The business had revenue of $7.55 billion for 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%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current 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.