Envestnet Portfolio Solutions Inc. Sells 6,087 Shares of CarMax, Inc. (NYSE:KMX)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. 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 filing with the SEC.

Several other institutional investors have also made changes to their positions in KMX. Allworth Financial LP boosted its holdings in shares of CarMax by 62.7% during the fourth quarter. Allworth Financial LP now owns 646 shares of the company's stock worth $51,000 after purchasing an additional 249 shares during the period. Ameriflex Group Inc. acquired a new stake in CarMax in the fourth quarter valued at approximately $53,000. Colonial Trust Co SC lifted its stake in 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 acquiring an additional 693 shares during the last quarter. Parallel Advisors LLC lifted its stake in CarMax by 38.4% in the first 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. Finally, True Wealth Design LLC lifted its stake in CarMax by 123.8% in the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after acquiring an additional 551 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Robert W. Baird reduced their target price on shares of CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Royal Bank Of Canada lifted their target price on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Wedbush restated an "outperform" rating and issued a $90.00 price objective on shares of CarMax in a research note on Wednesday, June 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CarMax presently has an average rating of "Moderate Buy" and an average price target of $85.10.

CarMax Stock Performance

KMX stock traded down $0.17 on Friday, reaching $66.50. 5,639,577 shares of the company were exchanged, compared to its average volume of 2,381,339. CarMax, Inc. has a 12 month low of $61.34 and a 12 month high of $91.25. The stock's fifty day moving average price is $65.78 and its 200 day moving average price is $74.76. The firm has a market capitalization of $10.15 billion, a PE ratio of 18.37, a PEG ratio of 1.09 and a beta of 1.38. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80.

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, topping 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 firm posted $0.97 earnings per share. CarMax's revenue was up 6.1% compared to the same quarter last year. On average, research analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

In other CarMax news, Director Mitchell D. Steenrod purchased 1,300 shares of the stock in a transaction on Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the acquisition, the director now directly owns 33,577 shares of the company's stock, valued at $2,198,957.73. This represents a 4.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

CarMax Company 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.