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% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 179,265 shares of the company's stock after selling 938,184 shares during the period. Brown Advisory Inc. owned about 0.12% of CarMax worth $13,968,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KMX. Ameriflex Group Inc. acquired a new stake in CarMax during the fourth quarter worth about $53,000. Colonial Trust Co SC boosted its stake in 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 purchasing an additional 693 shares during the period. Blue Trust Inc. boosted its stake in 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 purchasing an additional 296 shares during the period. Parallel Advisors LLC boosted its stake in 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 purchasing an additional 260 shares during the period. Finally, True Wealth Design LLC boosted its stake in 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 purchasing an additional 551 shares during the period.

CarMax Trading Up 1.3%

Shares of KMX stock traded up $0.81 during trading hours on Monday, reaching $65.15. 2,630,697 shares of the stock traded hands, compared to its average volume of 2,409,179. CarMax, Inc. has a 1-year low of $61.34 and a 1-year high of $91.25. The business has a fifty day moving average price of $66.46 and a 200 day moving average price of $73.56. 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 firm has a market capitalization of $9.78 billion, a PE ratio of 18.00, a PEG ratio of 1.04 and a beta of 1.38.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KMX shares. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of CarMax in a research note on Wednesday, June 18th. Truist Financial boosted their target price on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Mizuho reduced their target price on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, CarMax currently has an average rating of "Moderate Buy" and a consensus target price of $84.45.

Insider Buying and Selling

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

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.