Cetera Investment Advisers Sells 33,001 Shares of CarMax, Inc. $KMX

Cetera Investment Advisers decreased its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 21.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,045 shares of the company's stock after selling 33,001 shares during the quarter. Cetera Investment Advisers owned approximately 0.08% of CarMax worth $4,950,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Huntington National Bank raised its holdings in shares of CarMax by 62.4% in the 4th quarter. Huntington National Bank now owns 690 shares of the company's stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in CarMax during the second quarter valued at approximately $28,000. MUFG Securities EMEA plc purchased a new position in shares of CarMax in the 2nd quarter valued at $30,000. Advisory Services Network LLC bought a new position in shares of CarMax in the 3rd quarter worth $32,000. Finally, Commonwealth Retirement Investments LLC purchased a new stake in shares of CarMax during the 4th quarter worth $33,000.

Analyst Ratings Changes

KMX has been the subject of a number of recent analyst reports. Wall Street Zen raised CarMax from a "sell" rating to a "hold" rating in a research report on Saturday, June 13th. Mizuho increased their price objective on shares of CarMax from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Thursday, June 18th. Barclays upgraded shares of CarMax from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $37.00 to $61.00 in a research report on Tuesday, July 21st. UBS Group set a $60.00 price objective on shares of CarMax in a report on Wednesday, July 29th. Finally, Bank of America upped their price objective on CarMax from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, CarMax presently has an average rating of "Reduce" and an average target price of $51.00.

CarMax Trading Up 2.0%

NYSE:KMX opened at $58.42 on Tuesday. The firm has a market cap of $8.29 billion, a P/E ratio of 38.18, a PEG ratio of 2.62 and a beta of 1.17. CarMax, Inc. has a 12-month low of $30.26 and a 12-month high of $62.56. The stock's 50 day simple moving average is $52.10 and its 200-day simple moving average is $45.82. The company has a current ratio of 2.70, a quick ratio of 0.82 and a debt-to-equity ratio of 2.87.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Wednesday, June 17th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.35. The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.42 billion. CarMax had a return on equity of 6.64% and a net margin of 0.84%.The business's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.38 EPS. Equities analysts anticipate that CarMax, Inc. will post 2.73 EPS for the current year.

Insider Activity at CarMax

In related news, CEO Keith Barr purchased 9,400 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $53.01 per share, with a total value of $498,294.00. Following the completion of the transaction, the chief executive officer owned 33,375 shares of the company's stock, valued at approximately $1,769,208.75. This trade represents a 39.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sona Chawla purchased 2,000 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was bought at an average price of $53.39 per share, for a total transaction of $106,780.00. Following the acquisition, the director owned 21,702 shares in the company, valued at $1,158,669.78. The trade was a 10.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 13,900 shares of company stock worth $735,574. 1.01% of the stock is currently owned by insiders.

CarMax Profile

CarMax NYSE: KMX is a leading retailer of used vehicles in the United States, offering customers a streamlined, no-haggle purchasing experience. The company's inventory spans a broad range of makes and models, each of which undergoes a comprehensive inspection process before being offered for sale. Customers can shop in person at CarMax's retail locations or browse the company's online platform, which provides detailed vehicle histories, virtual tours and contactless purchasing options.

Originally launched in 1993 as a division of Circuit City, CarMax became an independent, publicly traded company in 1997.

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