Madison Asset Management LLC Reduces Stake in CarMax, Inc. (NYSE:KMX)

Madison Asset Management LLC cut its holdings in CarMax, Inc. (NYSE:KMX - Free Report) by 57.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,277 shares of the company's stock after selling 5,742 shares during the quarter. Madison Asset Management LLC's holdings in CarMax were worth $333,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ameriflex Group Inc. acquired a new position in shares of CarMax during the fourth quarter worth approximately $53,000. Colonial Trust Co SC raised its position in shares of CarMax by 2,310.0% during 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. raised its position in shares of CarMax by 49.2% during 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 raised its position in shares of CarMax by 38.4% during 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 raised its position in shares of CarMax by 123.8% during 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 Stock Performance

NYSE:KMX traded up $0.51 during trading on Friday, reaching $60.73. The company's stock had a trading volume of 2,197,236 shares, compared to its average volume of 2,943,822. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 0.97 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. The firm has a 50 day moving average of $65.49 and a 200-day moving average of $72.38. CarMax, Inc. has a 12 month low of $59.96 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 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.20. The company had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. CarMax had a return on equity of 9.11% and a net margin of 2.09%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 EPS. Research analysts expect that CarMax, Inc. will post 3.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KMX shares. Evercore ISI decreased their price target on CarMax from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Benchmark started coverage on CarMax in a report on Thursday, July 17th. They set a "buy" rating and a $75.00 price target for the company. Wall Street Zen upgraded CarMax from a "sell" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a report on Thursday, March 27th. Finally, Morgan Stanley started coverage on CarMax in a report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price target for the company. 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 issued a strong buy rating to the company. Based on data from MarketBeat, CarMax presently has a consensus rating of "Moderate Buy" and an average target price of $83.67.

Insider Buying and Selling at CarMax

In other news, EVP Jon G. Daniels sold 1,540 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $70.64, for a total transaction of $108,785.60. Following the completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.70% of the company's stock.

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.