Eldred Rock Partners LLC Sells 7,798 Shares of CarMax, Inc. $KMX

Key Points

• Eldred Rock Partners LLC reduced its stake in CarMax, Inc. by 5.0% in the 2nd quarter, owning approximately $9.89 million worth of shares at the end of the period.
• Recent insider transactions included EVP Jon G. Daniels selling 1,540 shares, representing a 35.66% decrease in his ownership in CarMax, valued at $196,308.56 post-sale.
• Several analysts have issued varying ratings on CarMax, with an average target price of $81.50 and a consensus rating of "Moderate Buy".

Eldred Rock Partners LLC decreased its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,143 shares of the company's stock after selling 7,798 shares during the period. CarMax comprises about 3.0% of Eldred Rock Partners LLC's holdings, making the stock its 18th largest position. Eldred Rock Partners LLC owned approximately 0.10% of CarMax worth $9,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redmond Asset Management LLC raised its stake in shares of CarMax by 0.3% during the 1st quarter. Redmond Asset Management LLC now owns 50,803 shares of the company's stock valued at $3,959,000 after purchasing an additional 152 shares during the period. Maia Wealth LLC grew its position in CarMax by 0.6% during the first quarter. Maia Wealth LLC now owns 26,099 shares of the company's stock worth $2,034,000 after buying an additional 157 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of CarMax by 3.1% in the 1st quarter. Jones Financial Companies Lllp now owns 5,372 shares of the company's stock worth $419,000 after purchasing an additional 161 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CarMax by 0.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,389 shares of the company's stock worth $2,446,000 after purchasing an additional 173 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of CarMax by 5.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,367 shares of the company's stock worth $262,000 after purchasing an additional 176 shares in the last quarter.

Insider Buying and Selling

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 stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the sale, the executive vice president directly owned 2,779 shares of the company's stock, valued at $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

CarMax Price Performance

NYSE:KMX traded down $1.58 on Friday, reaching $58.42. 5,808,787 shares of the company's stock traded hands, compared to its average volume of 2,424,319. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86. The stock has a 50-day simple moving average of $59.63 and a 200-day simple moving average of $65.61. The firm has a market cap of $8.77 billion, a PE ratio of 16.14, a P/E/G ratio of 0.98 and a beta of 1.35. 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 posted its quarterly earnings results on Friday, June 20th. The company reported $1.38 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.20. The business had revenue of $7.55 billion for the quarter, compared to analysts' expectations of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%.The business's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. Equities research analysts forecast that CarMax, Inc. will post 3.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley assumed coverage on CarMax in a report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 target price for the company. Wedbush restated an "outperform" rating and set a $84.00 target price on shares of CarMax in a report on Tuesday, August 19th. Truist Financial increased their target price on CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a report on Monday, June 23rd. Royal Bank Of Canada increased their target price on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, Stephens dropped their target price on CarMax from $81.00 to $74.00 and set an "overweight" rating for the company in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

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.