CarMax, Inc. (NYSE:KMX) Stock Holdings Trimmed by Weitz Investment Management Inc.

Key Points

• Weitz Investment Management Inc. has decreased its stake in CarMax, selling 20,000 shares, which now represents 3.3% of its investment portfolio and values around $62.74 million.
• Several institutional investors have modified their holdings in CarMax, with notable increases from Blue Trust Inc. (49.2%) and Parallel Advisors LLC (38.4%) during the first quarter.
• CarMax recently reported a quarterly earnings per share of $1.38, exceeding analysts' estimates, while its revenue was slightly below expectations at $7.55 billion.

Weitz Investment Management Inc. lowered its position in CarMax, Inc. (NYSE:KMX - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 805,200 shares of the company's stock after selling 20,000 shares during the quarter. CarMax comprises about 3.3% of Weitz Investment Management Inc.'s portfolio, making the stock its 11th largest position. Weitz Investment Management Inc. owned 0.53% of CarMax worth $62,741,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Raiffeisen Bank International AG raised its holdings in shares of CarMax by 30.9% during the 1st quarter. Raiffeisen Bank International AG now owns 15,578 shares of the company's stock worth $1,184,000 after acquiring an additional 3,681 shares during the period. Argent Trust Co increased its stake in CarMax by 10.6% during the 1st quarter. Argent Trust Co now owns 37,815 shares of the company's stock worth $2,947,000 after buying an additional 3,615 shares during the period. J. Safra Sarasin Holding AG bought a new stake in CarMax during the first quarter valued at $3,019,000. PNC Financial Services Group Inc. raised its stake in shares of CarMax by 2.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 61,981 shares of the company's stock worth $4,830,000 after buying an additional 1,768 shares in the last quarter. Finally, ProVise Management Group LLC raised its stake in CarMax by 11.4% during the 1st quarter. ProVise Management Group LLC now owns 93,765 shares of the company's stock valued at $7,306,000 after purchasing an additional 9,610 shares during the period.

CarMax Stock Performance

NYSE:KMX traded up $0.14 during mid-day trading on Wednesday, hitting $56.24. The company's stock had a trading volume of 4,019,062 shares, compared to its average volume of 3,114,673. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 0.91 and a beta of 1.36. CarMax, Inc. has a 1 year low of $54.53 and a 1 year high of $91.25. The business's fifty day moving average is $64.53 and its two-hundred day moving average is $71.23.

CarMax (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. The firm 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%. CarMax's revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. Analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Transactions at CarMax

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the sale, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. The trade was a 35.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on KMX. Royal Bank Of Canada increased their price objective on CarMax from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $92.00 target price on shares of CarMax in a report on Monday, June 23rd. Morgan Stanley initiated coverage on shares of CarMax in a research report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price on the stock. Mizuho decreased their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Finally, Truist Financial upped their price objective 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CarMax has a consensus rating of "Moderate Buy" and a consensus target price of $83.08.

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.