Procyon Advisors LLC Trims Stake in CarMax, Inc. (NYSE:KMX)

Procyon Advisors LLC cut its position in CarMax, Inc. (NYSE:KMX - Free Report) by 34.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,450 shares of the company's stock after selling 4,884 shares during the quarter. Procyon Advisors LLC's holdings in CarMax were worth $736,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cromwell Holdings LLC lifted its stake in CarMax by 104.8% in the fourth quarter. Cromwell Holdings LLC now owns 424 shares of the company's stock valued at $35,000 after buying an additional 217 shares during the last quarter. Allworth Financial LP increased its holdings in shares of CarMax by 62.7% in the 4th quarter. Allworth Financial LP now owns 646 shares of the company's stock valued at $51,000 after acquiring an additional 249 shares during the period. Ameriflex Group Inc. acquired a new position in shares of CarMax in the 4th quarter valued at $53,000. Colonial Trust Co SC raised its position in CarMax by 2,310.0% in the 4th quarter. Colonial Trust Co SC now owns 723 shares of the company's stock valued at $59,000 after purchasing an additional 693 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in CarMax by 38.4% during the 1st 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.

Insiders Place Their Bets

In related news, Director Mitchell D. Steenrod purchased 1,300 shares of CarMax stock in a transaction dated 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 transaction, the director now owns 33,577 shares in the company, valued at approximately $2,198,957.73. The trade was a 4.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank of Canada restated an "underperform" rating on shares of CarMax in a research note on Monday, April 21st. Stephens upgraded CarMax from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $86.00 to $90.00 in a research report on Wednesday, March 26th. Wedbush reaffirmed an "outperform" rating and set a $90.00 price objective on shares of CarMax in a research note on Monday, May 19th. JPMorgan Chase & Co. decreased their price objective on CarMax from $72.00 to $65.00 and set an "underweight" rating for the company in a research report on Thursday, March 27th. Finally, Cfra Research upgraded CarMax to a "strong-buy" rating in a research note on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $85.82.

CarMax Stock Performance

Shares of KMX stock opened at $65.68 on Friday. The company has a current ratio of 2.30, a quick ratio of 0.55 and a debt-to-equity ratio of 2.92. The stock has a 50 day simple moving average of $67.36 and a 200-day simple moving average of $76.63. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.38. CarMax, Inc. has a 12-month low of $61.34 and a 12-month high of $91.25.

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.

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