Morningstar Investment Services LLC Sells 86,117 Shares of CarMax, Inc. (NYSE:KMX)

Morningstar Investment Services LLC decreased its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 54.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,668 shares of the company's stock after selling 86,117 shares during the period. CarMax accounts for 1.0% of Morningstar Investment Services LLC's investment portfolio, making the stock its 21st biggest holding. Morningstar Investment Services LLC's holdings in CarMax were worth $5,506,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new position in shares of CarMax during the fourth quarter valued at about $53,000. Colonial Trust Co SC grew its stake in 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 buying an additional 693 shares during the last quarter. Blue Trust Inc. grew its stake in shares of CarMax by 49.2% during the first 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 boosted its stake in CarMax by 38.4% in the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after acquiring an additional 260 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in CarMax by 123.8% in the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after acquiring an additional 551 shares during the last quarter.

Insider Transactions at CarMax

In other CarMax news, Director Mitchell D. Steenrod acquired 1,300 shares of the business's stock in a transaction on Thursday, April 24th. The stock was purchased at an average price of $65.49 per share, with a total value of $85,137.00. Following the acquisition, the director directly owned 33,577 shares of the company's stock, valued at approximately $2,198,957.73. This trade represents a 4.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jon G. Daniels sold 1,540 shares of the business's 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 completion of the transaction, the executive vice president owned 2,779 shares of the company's stock, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

CarMax Stock Performance

Shares of KMX stock traded down $0.75 during midday trading on Monday, hitting $61.87. 1,564,160 shares of the company were exchanged, compared to its average volume of 2,429,097. The firm has a market capitalization of $9.28 billion, a P/E ratio of 17.10, a PEG 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. The firm's 50 day moving average price is $66.14 and its two-hundred day moving average price is $72.90. CarMax, Inc. has a 52 week low of $61.34 and a 52 week high of $91.25.

CarMax (NYSE:KMX - Get Free Report) last released its quarterly earnings results on Friday, June 20th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.20. The business 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. As a group, equities research analysts anticipate that CarMax, Inc. will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Truist Financial increased their target price on shares of CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a report on Monday, June 23rd. Needham & Company LLC restated a "buy" rating and set a $92.00 price objective on shares of CarMax in a report on Monday, June 23rd. Cfra Research raised shares of CarMax to a "strong-buy" rating in a research report on Thursday, April 10th. Wedbush reaffirmed an "outperform" rating and issued a $90.00 target price on shares of CarMax in a research report on Wednesday, June 18th. Finally, Royal Bank Of Canada raised their target price on shares of CarMax from $80.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, June 23rd. Two 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.