CarMax, Inc. (NYSE:KMX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its holdings in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,041 shares of the company's stock after selling 11,074 shares during the quarter. Pacer Advisors Inc.'s holdings in CarMax were worth $938,000 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 the business. Assetmark Inc. grew its stake in CarMax by 14.6% during the 1st quarter. Assetmark Inc. now owns 175,159 shares of the company's stock worth $13,648,000 after buying an additional 22,257 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of CarMax by 4.8% in the first quarter. Cetera Investment Advisers now owns 154,681 shares of the company's stock worth $12,053,000 after purchasing an additional 7,102 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of CarMax by 17.5% in the first quarter. Avantax Advisory Services Inc. now owns 9,323 shares of the company's stock worth $726,000 after purchasing an additional 1,386 shares during the last quarter. First Pacific Advisors LP raised its stake in shares of CarMax by 0.8% in the first quarter. First Pacific Advisors LP now owns 2,415,974 shares of the company's stock worth $188,253,000 after purchasing an additional 18,912 shares during the last quarter. Finally, AE Wealth Management LLC lifted its holdings in shares of CarMax by 7.9% in the 1st quarter. AE Wealth Management LLC now owns 5,132 shares of the company's stock valued at $400,000 after buying an additional 376 shares during the period.

Insider Buying and Selling

In related news, EVP Jon G. Daniels sold 1,540 shares of CarMax stock in a transaction that occurred 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 transaction, the executive vice president owned 2,779 shares in the company, valued at approximately $196,308.56. This trade represents a 35.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KMX shares. Wedbush restated an "outperform" rating and issued a $90.00 target price on shares of CarMax in a research note on Wednesday, June 18th. Mizuho lowered their target price on CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Truist Financial upped their target price on CarMax from $72.00 to $74.00 and gave the stock a "hold" rating in a research note on Monday, June 23rd. Evercore ISI lowered their target price on CarMax from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Finally, Cfra Research upgraded CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, CarMax presently has an average rating of "Moderate Buy" and an average target price of $83.67.

CarMax Price Performance

Shares of CarMax stock traded down $0.63 during mid-day trading on Friday, reaching $55.98. 3,828,338 shares of the stock traded hands, compared to its average volume of 2,868,409. The business has a 50-day moving average of $64.95 and a 200 day moving average of $71.78. CarMax, Inc. has a fifty-two week low of $55.37 and a fifty-two week high of $91.25. The stock has a market capitalization of $8.40 billion, a PE ratio of 15.46, a PEG ratio of 0.92 and a beta of 1.36. The company has a quick ratio of 0.80, a current ratio of 2.39 and a debt-to-equity ratio of 2.86.

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

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.