Inlet Private Wealth LLC Reduces Stock Holdings in CarMax, Inc. (NYSE:KMX)

Key Points

• Inlet Private Wealth LLC significantly reduced its stake in CarMax, Inc. by 93.7% during Q1, selling 50,530 shares and retaining only 3,400 shares valued at approximately $265,000.
• Multiple institutional investors have increased their holdings in CarMax, with Colonial Trust Co SC growing its stake by 2,310.0% during the same period.
• Wall Street analysts have mixed opinions on CarMax, with ratings ranging from sell to strong buy; current price targets vary, with an average target of $83.67.

Inlet Private Wealth LLC trimmed its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 93.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,400 shares of the company's stock after selling 50,530 shares during the quarter. Inlet Private Wealth LLC's holdings in CarMax were worth $265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KMX. Ameriflex Group Inc. purchased a new stake in CarMax during the 4th quarter valued at about $53,000. Colonial Trust Co SC grew its stake in CarMax by 2,310.0% during the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after purchasing an additional 693 shares during the last quarter. Blue Trust Inc. grew its stake in CarMax by 49.2% during the 1st quarter. Blue Trust Inc. now owns 898 shares of the company's stock valued at $70,000 after purchasing an additional 296 shares during the last quarter. Parallel Advisors LLC grew its stake in CarMax by 38.4% during the 1st quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after purchasing an additional 260 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in CarMax by 123.8% during the 4th quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after purchasing an additional 551 shares during the last quarter.

Insiders Place Their Bets

In related news, EVP Jon G. Daniels sold 1,540 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This represents a 35.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank Of Canada boosted their price target on CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Needham & Company LLC reissued a "buy" rating and issued a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Robert W. Baird decreased their price objective on CarMax from $95.00 to $90.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Cfra Research raised CarMax to a "strong-buy" rating in a report on Thursday, April 10th. Finally, Wedbush reissued an "outperform" rating and issued a $90.00 price objective on shares of CarMax in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.67.

CarMax Stock Performance

NYSE KMX opened at $60.73 on Monday. The stock has a market capitalization of $9.11 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 0.98 and a beta of 1.38. CarMax, Inc. has a twelve month low of $59.96 and a twelve month high of $91.25. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86. The stock has a 50-day moving average of $65.49 and a 200 day moving average of $72.24.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.20. The company had revenue of $7.55 billion during 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%. CarMax's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Sell-side analysts anticipate that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

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.

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