CarMax, Inc. (NYSE:KMX) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its stake in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 33.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 180,149 shares of the company's stock after selling 91,328 shares during the quarter. Ninety One UK Ltd owned approximately 0.12% of CarMax worth $14,037,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Ameriflex Group Inc. purchased a new position in CarMax during the fourth quarter valued at approximately $53,000. Colonial Trust Co SC increased its holdings in CarMax by 2,310.0% during the fourth quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after buying an additional 693 shares during the period. Blue Trust Inc. increased its holdings in 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 buying an additional 296 shares during the period. Parallel Advisors LLC increased its holdings in CarMax by 38.4% during the first quarter. Parallel Advisors LLC now owns 937 shares of the company's stock valued at $73,000 after buying an additional 260 shares during the period. Finally, True Wealth Design LLC increased its holdings in CarMax by 123.8% during the fourth quarter. True Wealth Design LLC now owns 996 shares of the company's stock valued at $81,000 after buying an additional 551 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KMX. Evercore ISI cut their price objective on shares of CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Stephens upgraded shares of CarMax from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $86.00 to $90.00 in a research note on Wednesday, March 26th. Cfra Research upgraded shares of CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Mizuho lowered their target price on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Finally, Truist Financial raised their target price on shares of CarMax from $72.00 to $74.00 and gave the company a "hold" rating in a research note on Monday, June 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, CarMax presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.45.

Insider Buying and Selling at CarMax

In other CarMax news, Director Mitchell D. Steenrod bought 1,300 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average cost of $65.49 per share, for a total transaction of $85,137.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Jon G. Daniels sold 1,540 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 2,779 shares of the company's stock, valued at $196,308.56. This represents 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 NYSE:KMX traded down $2.57 on Friday, hitting $64.37. 3,030,288 shares of the company were exchanged, compared to its average volume of 2,407,082. CarMax, Inc. has a 1-year low of $61.34 and a 1-year high of $91.25. The stock's 50 day moving average price is $66.46 and its 200 day moving average price is $73.72. 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 firm has a market capitalization of $9.66 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.08 and a beta of 1.38.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.18 by $0.20. CarMax had a net margin of 2.09% and a return on equity of 9.11%. The business had revenue of $7.55 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts predict that CarMax, Inc. will post 3.23 EPS for the current year.

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.