Ninety One UK Ltd Sells 91,328 Shares of CarMax, Inc. (NYSE:KMX)

Ninety One UK Ltd reduced its stake in CarMax, Inc. (NYSE:KMX - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 180,149 shares of the company's stock after selling 91,328 shares during the period. Ninety One UK Ltd owned approximately 0.12% of CarMax worth $14,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its position in CarMax by 10.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,191 shares of the company's stock valued at $261,000 after acquiring an additional 307 shares in the last quarter. Jones Financial Companies Lllp grew its position in CarMax by 36.6% in the 4th quarter. Jones Financial Companies Lllp now owns 5,211 shares of the company's stock valued at $426,000 after acquiring an additional 1,396 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in CarMax by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,678 shares of the company's stock valued at $1,571,000 after acquiring an additional 2,375 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its position in CarMax by 128.6% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 8,793 shares of the company's stock valued at $719,000 after acquiring an additional 4,947 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of CarMax by 3.5% during the first quarter. Asset Management One Co. Ltd. now owns 60,653 shares of the company's stock worth $4,726,000 after buying an additional 2,078 shares in the last quarter.

Insider Transactions at CarMax

In other CarMax news, Director Mitchell D. Steenrod purchased 1,300 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was purchased at an average cost 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jon G. Daniels sold 1,540 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $70.64, for a total value of $108,785.60. Following the completion of the sale, the executive vice president owned 2,779 shares of the company's stock, valued at approximately $196,308.56. This trade 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 owned by company insiders.

CarMax Stock Down 3.8%

NYSE KMX traded down $2.57 during trading on Friday, hitting $64.37. 3,030,288 shares of the company traded hands, compared to its average volume of 2,408,284. CarMax, Inc. has a 12 month low of $61.34 and a 12 month high of $91.25. The business has a fifty day simple moving average of $66.46 and a 200 day simple moving average of $73.64. 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 company has a market capitalization of $9.66 billion, a P/E ratio of 17.78, a PEG ratio of 1.04 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last issued 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 company had revenue of $7.55 billion for 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 revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. As a group, sell-side analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on KMX. Truist Financial boosted their price objective on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research report on Monday, June 23rd. Wedbush reaffirmed an "outperform" rating and issued a $90.00 price target on shares of CarMax in a report on Wednesday, June 18th. Morgan Stanley began coverage on CarMax in a report on Tuesday, July 1st. They issued an "overweight" rating and a $80.00 price target for the company. JPMorgan Chase & Co. lowered 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, 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CarMax has an average rating of "Moderate Buy" and a consensus price target of $84.45.

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.