Vanguard Group Inc. Trims Position in CarMax, Inc. (NYSE:KMX)

Vanguard Group Inc. reduced its position in shares of CarMax, Inc. (NYSE:KMX - Free Report) by 0.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,086,761 shares of the company's stock after selling 109,637 shares during the quarter. Vanguard Group Inc. owned 11.85% of CarMax worth $1,409,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kovitz Investment Group Partners LLC boosted its holdings in shares of CarMax by 348.0% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,595,067 shares of the company's stock worth $539,213,000 after buying an additional 5,122,850 shares during the last quarter. AQR Capital Management LLC raised its stake in CarMax by 82.9% during the 4th quarter. AQR Capital Management LLC now owns 1,400,012 shares of the company's stock worth $114,465,000 after acquiring an additional 634,390 shares during the period. GAMMA Investing LLC raised its stake in CarMax by 8,675.6% during the 1st quarter. GAMMA Investing LLC now owns 515,830 shares of the company's stock worth $40,193,000 after acquiring an additional 509,952 shares during the period. ThornTree Capital Partners LP bought a new stake in CarMax during the 4th quarter worth approximately $35,612,000. Finally, Raymond James Financial Inc. bought a new stake in CarMax during the 4th quarter worth approximately $31,061,000.

CarMax Price Performance

KMX traded down $0.46 during trading hours on Thursday, hitting $58.16. The company's stock had a trading volume of 2,099,553 shares, compared to its average volume of 2,949,325. The business's 50-day moving average price is $63.55 and its 200-day moving average price is $70.29. CarMax, Inc. has a 12 month low of $54.53 and a 12 month high of $91.25. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.92 and a beta of 1.36. The company has a current ratio of 2.39, a quick ratio of 0.80 and a debt-to-equity ratio of 2.86.

CarMax (NYSE:KMX - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. The business's revenue was up 6.1% compared to the same quarter last year. Sell-side analysts expect that CarMax, Inc. will post 3.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on KMX shares. Benchmark started coverage on shares of CarMax in a research note on Thursday, July 17th. They set a "buy" rating and a $75.00 target price on the stock. Mizuho reduced their price objective on shares of CarMax from $80.00 to $78.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Morgan Stanley assumed coverage on shares of CarMax in a research report on Tuesday, July 1st. They set an "overweight" rating and a $80.00 price objective on the stock. Wall Street Zen upgraded shares of CarMax from a "sell" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $92.00 price objective on shares of CarMax in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.75.

Insiders Place Their Bets

In other CarMax news, 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 in the company, valued at $196,308.56. The trade was a 35.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by company insiders.

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.