Charles Schwab Investment Management Inc. Sells 6,904 Shares of CarMax, Inc. (NYSE:KMX)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in CarMax, Inc. by 0.5%, now owning 1,487,556 shares valued at approximately $115.91 million.
• CarMax reported $1.38 earnings per share (EPS) for the last quarter, exceeding estimates, with a year-over-year revenue increase of 6.1%.
• Analysts have a consensus rating of "Moderate Buy" for CarMax, with an average price target of $83.08.

Charles Schwab Investment Management Inc. decreased its position in CarMax, Inc. (NYSE:KMX - Free Report) by 0.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,487,556 shares of the company's stock after selling 6,904 shares during the period. Charles Schwab Investment Management Inc. owned 0.97% of CarMax worth $115,910,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of KMX. Kovitz Investment Group Partners LLC boosted its holdings in shares of CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock valued at $539,213,000 after purchasing an additional 5,122,850 shares during the period. AQR Capital Management LLC boosted its holdings in shares of CarMax by 82.9% in the fourth quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock valued at $114,465,000 after purchasing an additional 634,390 shares during the period. GAMMA Investing LLC boosted its holdings in shares of CarMax by 8,675.6% in the first quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock valued at $40,193,000 after purchasing an additional 509,952 shares during the period. ThornTree Capital Partners LP purchased a new stake in shares of CarMax in the fourth quarter valued at approximately $35,612,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of CarMax in the fourth quarter valued at approximately $31,061,000.

CarMax Stock Performance

Shares of KMX stock opened at $55.93 on Tuesday. The business's fifty day simple moving average is $63.89 and its 200-day simple moving average is $70.47. The company has a market cap of $8.39 billion, a PE ratio of 15.45, a PEG ratio of 0.89 and a beta of 1.36. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. CarMax, Inc. has a 12-month low of $54.53 and a 12-month 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, beating the consensus estimate of $1.18 by $0.20. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the firm earned $0.97 EPS. The firm's revenue was up 6.1% on a year-over-year basis. Analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. This represents a 35.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Benchmark assumed coverage on CarMax in a report on Thursday, July 17th. They issued a "buy" rating and a $75.00 price target for the company. Truist Financial upped their target price on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a report on Monday, June 23rd. JPMorgan Chase & Co. upgraded CarMax from an "underweight" rating to a "neutral" rating and lowered their target price for the stock from $65.00 to $58.00 in a report on Wednesday, August 6th. Morgan Stanley initiated coverage on CarMax in a report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price for the company. Finally, Evercore ISI lowered their target price on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.08.

CarMax 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.