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

Cooke & Bieler LP trimmed its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 3.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,769,252 shares of the company's stock after selling 58,061 shares during the quarter. CarMax makes up about 1.4% of Cooke & Bieler LP's investment portfolio, making the stock its 27th largest holding. Cooke & Bieler LP owned approximately 1.16% of CarMax worth $137,860,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Ameriflex Group Inc. bought a new position in shares of CarMax in the fourth quarter worth approximately $53,000. Colonial Trust Co SC boosted its position in shares of CarMax by 2,310.0% in the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock worth $59,000 after purchasing an additional 693 shares during the period. Blue Trust Inc. boosted its position in shares of CarMax by 49.2% in the first quarter. Blue Trust Inc. now owns 898 shares of the company's stock worth $70,000 after purchasing an additional 296 shares during the period. Parallel Advisors LLC boosted its position in shares of CarMax by 38.4% in the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock worth $73,000 after purchasing an additional 260 shares during the period. Finally, True Wealth Design LLC boosted its position in shares of CarMax by 123.8% in the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock worth $81,000 after purchasing an additional 551 shares during the period.

CarMax Trading Up 0.6%

Shares of CarMax stock traded up $0.37 during trading on Friday, hitting $62.65. The stock had a trading volume of 2,810,909 shares, compared to its average volume of 2,426,190. The firm's fifty day simple moving average is $66.21 and its 200-day simple moving average is $73.15. The stock has a market cap of $9.40 billion, a PE ratio of 17.31, a PEG ratio of 1.01 and a beta of 1.38. The company has a debt-to-equity ratio of 2.86, a current ratio of 2.39 and a quick ratio of 0.80. CarMax, Inc. has a 12 month low of $61.34 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, 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, sell-side analysts expect that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on KMX shares. Morgan Stanley started coverage on shares of CarMax in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 price target for the company. Mizuho cut their target price on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $92.00 target price on shares of CarMax in a research note on Monday, June 23rd. Wall Street Zen raised shares of CarMax from a "sell" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Evercore ISI cut their target price on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.