CarMax, Inc. (NYSE:KMX) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 19.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,013 shares of the company's stock after selling 11,949 shares during the period. Cerity Partners LLC's holdings in CarMax were worth $3,975,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its position in shares of CarMax by 10.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after acquiring an additional 307 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in CarMax by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock worth $1,571,000 after acquiring an additional 2,375 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in CarMax during the first quarter worth about $1,753,000. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of CarMax by 128.6% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 8,793 shares of the company's stock worth $719,000 after buying an additional 4,947 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in shares of CarMax by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock worth $4,726,000 after buying an additional 2,078 shares in the last quarter.

CarMax Price Performance

KMX stock traded up $0.37 during trading on Friday, hitting $62.65. 2,810,909 shares of the company's stock traded hands, compared to its average volume of 2,426,192. The business has a fifty day simple moving average of $66.21 and a 200 day simple moving average of $73.15. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.01 and a beta of 1.38. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.80 and a current ratio of 2.39. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last released its earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.20. The firm had revenue of $7.55 billion during 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%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. As a group, research analysts expect that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Activity

In other CarMax news, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mitchell D. Steenrod acquired 1,300 shares of the business's stock in a transaction dated Thursday, April 24th. The stock was purchased at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the transaction, the director owned 33,577 shares in the company, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KMX shares. Evercore ISI dropped their target price on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Truist Financial upped their target price on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. Benchmark began coverage on CarMax in a research note on Thursday. They issued a "buy" rating and a $75.00 price target for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $90.00 target price on shares of CarMax in a research note on Wednesday, June 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

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.