CarMax, Inc. (NYSE:KMX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 33.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,209 shares of the company's stock after selling 6,087 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in CarMax were worth $951,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue grew its position in CarMax by 2.0% during the 1st quarter. State of Alaska Department of Revenue now owns 18,022 shares of the company's stock worth $1,404,000 after purchasing an additional 355 shares during the period. Birch Hill Investment Advisors LLC boosted its stake in shares of CarMax by 1.3% in the first quarter. Birch Hill Investment Advisors LLC now owns 29,034 shares of the company's stock worth $2,262,000 after buying an additional 385 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in CarMax by 2.4% during the first quarter. Janney Montgomery Scott LLC now owns 16,143 shares of the company's stock worth $1,258,000 after acquiring an additional 380 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in CarMax during the first quarter valued at approximately $580,000. Finally, Fifth Third Bancorp raised its position in CarMax by 13.4% during the first quarter. Fifth Third Bancorp now owns 10,031 shares of the company's stock valued at $782,000 after acquiring an additional 1,186 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on KMX shares. Wedbush restated an "outperform" rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. JPMorgan Chase & Co. cut their price objective on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Truist Financial upped their target price on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday. Royal Bank Of Canada lifted their price target on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.10.

Insider Activity at CarMax

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of CarMax stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $65.49 per share, with a total value of $85,137.00. Following the transaction, the director now directly owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company's stock.

CarMax Stock Performance

NYSE KMX opened at $69.30 on Wednesday. The stock has a fifty day simple moving average of $65.63 and a 200-day simple moving average of $75.18. CarMax, Inc. has a twelve month low of $61.34 and a twelve month 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 market cap of $10.58 billion, a PE ratio of 19.14, a P/E/G ratio of 1.11 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last announced its 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 return on equity of 9.11% and a net margin of 2.09%. The company 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 company earned $0.97 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that CarMax, Inc. will post 3.23 earnings per share 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.

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