Centerstone Investors LLC Has $695,000 Position in CarMax, Inc. $KMX

Key Points

• Centerstone Investors LLC reduced its stake in CarMax, Inc. by 58.3%, selling 12,482 shares and retaining 8,920 shares valued at approximately $695,000.
• Recent activities include Zions Bancorporation purchasing a new stake worth $27,000 and several other hedge funds adjusting their positions, indicating ongoing interest in CarMax.
• CarMax reported earnings of $1.38 per share, surpassing analysts' expectations, with a revenue of $7.55 billion for the quarter, showing a 6.1% increase year-over-year.

Centerstone Investors LLC lessened its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 58.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,920 shares of the company's stock after selling 12,482 shares during the period. CarMax comprises about 1.6% of Centerstone Investors LLC's portfolio, making the stock its 14th largest holding. Centerstone Investors LLC's holdings in CarMax were worth $695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in shares of CarMax by 0.6% during the 4th quarter. Janus Henderson Group PLC now owns 4,671,950 shares of the company's stock valued at $381,978,000 after acquiring an additional 29,715 shares during the last quarter. Baird Financial Group Inc. lifted its position in shares of CarMax by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 3,093,632 shares of the company's stock valued at $241,056,000 after acquiring an additional 206,106 shares during the last quarter. Invesco Ltd. lifted its position in shares of CarMax by 4.9% during the 1st quarter. Invesco Ltd. now owns 2,863,594 shares of the company's stock valued at $223,131,000 after acquiring an additional 133,629 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its holdings in shares of CarMax by 2.2% in the fourth quarter. Turtle Creek Asset Management Inc. now owns 2,590,071 shares of the company's stock valued at $211,764,000 after purchasing an additional 56,906 shares in the last quarter. Finally, First Pacific Advisors LP lifted its holdings in shares of CarMax by 0.8% in the first quarter. First Pacific Advisors LP now owns 2,415,974 shares of the company's stock valued at $188,253,000 after purchasing an additional 18,912 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial increased their target price on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Royal Bank Of Canada increased their target price on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Stephens restated an "overweight" rating and issued a $81.00 target price on shares of CarMax in a report on Tuesday, August 19th. Benchmark assumed coverage on CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 target price for the company. Finally, Wedbush restated an "outperform" rating and issued a $84.00 target price on shares of CarMax in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.50.

Insider Buying and Selling

In other news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction dated 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 directly owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

CarMax Stock Up 1.0%

CarMax stock traded up $0.58 during mid-day trading on Monday, hitting $61.28. 2,627,427 shares of the company's stock were exchanged, compared to its average volume of 2,920,140. 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 $9.20 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.99 and a beta of 1.35. CarMax, Inc. has a 1-year low of $54.53 and a 1-year high of $91.25. The stock has a 50 day moving average of $61.30 and a two-hundred day moving average of $66.93.

CarMax (NYSE:KMX - Get Free Report) last posted its earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.18 by $0.20. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

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.