CarMax, Inc. $KMX Shares Sold by OLD National Bancorp IN

Key Points

• OLD National Bancorp IN reduced its stake in CarMax by 17.7%, selling 34,088 shares to finish the quarter with 158,600 shares valued at about $6.13 million.
• CarMax beat the quarter's estimates with $0.34 EPS vs. $0.22 expected and revenue of $5.95 billion, though revenue fell 1.0% year-over-year and EPS declined from $0.58 a year earlier.
• Analyst sentiment is mixed-to-negative overall: the consensus rating is "Reduce" with a $41.21 average price target, while individual brokers have issued both downgrades and an outperform raise.

OLD National Bancorp IN reduced its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,600 shares of the company's stock after selling 34,088 shares during the period. OLD National Bancorp IN owned about 0.11% of CarMax worth $6,128,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new position in CarMax during the 2nd quarter worth $28,000. MUFG Securities EMEA plc acquired a new stake in CarMax during the second quarter valued at approximately $30,000. Center for Financial Planning Inc. acquired a new stake in CarMax during the third quarter valued at approximately $31,000. Advisory Services Network LLC acquired a new stake in CarMax during the third quarter valued at approximately $32,000. Finally, True Wealth Design LLC raised its stake in CarMax by 54.3% during the fourth quarter. True Wealth Design LLC now owns 907 shares of the company's stock valued at $35,000 after buying an additional 319 shares in the last quarter.

CarMax Trading Down 2.6%

NYSE KMX opened at $38.54 on Friday. CarMax, Inc. has a one year low of $30.26 and a one year high of $71.99. The company has a 50-day simple moving average of $42.22 and a 200-day simple moving average of $41.75. The company has a debt-to-equity ratio of 2.93, a quick ratio of 0.49 and a current ratio of 2.20. The firm has a market capitalization of $5.47 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.30.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 14th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.22 by $0.12. CarMax had a net margin of 0.96% and a return on equity of 7.00%. The business had revenue of $5.95 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period in the previous year, the business posted $0.58 EPS. The company's quarterly revenue was down 1.0% on a year-over-year basis. On average, equities analysts forecast that CarMax, Inc. will post 2.42 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on KMX. JPMorgan Chase & Co. upped their price objective on CarMax from $28.00 to $35.00 and gave the company an "underweight" rating in a research note on Wednesday, April 15th. Barclays cut their price objective on CarMax from $28.00 to $26.00 and set an "underweight" rating on the stock in a research note on Thursday, April 16th. Weiss Ratings restated a "sell (d)" rating on shares of CarMax in a research note on Wednesday, April 8th. Robert W. Baird upped their price objective on CarMax from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, February 18th. Finally, Zacks Research upgraded CarMax from a "strong sell" rating to a "hold" rating in a research note on Monday, January 5th. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and five have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $41.21.

CarMax Profile

CarMax NYSE: KMX is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

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