Cooke & Bieler LP Reduces Holdings in CarMax, Inc. (NYSE:KMX)

Cooke & Bieler LP cut its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,769,252 shares of the company's stock after selling 58,061 shares during the quarter. CarMax comprises 1.4% of Cooke & Bieler LP's portfolio, making the stock its 27th largest position. Cooke & Bieler LP owned approximately 1.16% of CarMax worth $137,860,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KMX. Proficio Capital Partners LLC bought a new position in CarMax in the fourth quarter valued at approximately $2,173,000. HighTower Advisors LLC boosted its position in shares of CarMax by 41.5% during the fourth quarter. HighTower Advisors LLC now owns 8,021 shares of the company's stock worth $656,000 after purchasing an additional 2,353 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of CarMax by 10.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock worth $261,000 after purchasing an additional 307 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of CarMax by 91.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,006 shares of the company's stock worth $82,000 after acquiring an additional 480 shares during the period. Finally, Madison Investment Advisors LLC bought a new stake in CarMax in the 4th quarter valued at $819,000.

Insider Buying and Selling

In related news, Director Mitchell D. Steenrod acquired 1,300 shares of CarMax stock in a transaction dated Thursday, April 24th. The shares were purchased at an average price of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, the director directly owned 33,577 shares in the company, valued at approximately $2,198,957.73. This represents a 4.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total transaction of $108,785.60. Following the sale, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. The trade was a 35.66% decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

CarMax Stock Up 0.6%

Shares of CarMax stock traded up $0.37 during trading on Friday, hitting $62.65. The company's stock had a trading volume of 2,810,909 shares, compared to its average volume of 2,432,261. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25. The company has a fifty day simple moving average of $66.14 and a two-hundred day simple moving average of $72.90. The company has a market capitalization of $9.40 billion, a PE 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 (NYSE:KMX - Get Free Report) last issued its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The firm had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the prior year, the business earned $0.97 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

KMX has been the topic of several research reports. Evercore ISI cut their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Benchmark initiated coverage on shares of CarMax in a research report on Thursday. They issued a "buy" rating and a $75.00 price objective on the stock. Mizuho cut their price objective on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Wedbush reiterated an "outperform" rating and issued a $90.00 price target on shares of CarMax in a research note on Wednesday, June 18th. Finally, Truist Financial boosted their price objective on shares of CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $83.67.

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.