Yousif Capital Management LLC reduced its stake in shares of CarMax, Inc. (NYSE:KMX – Free Report) by 5.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,421 shares of the company’s stock after selling 1,434 shares during the period. Yousif Capital Management LLC’s holdings in CarMax were worth $1,763,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Venturi Wealth Management LLC bought a new position in shares of CarMax during the 1st quarter valued at approximately $129,000. Pacer Advisors Inc. boosted its holdings in CarMax by 1,207.6% in the 1st quarter. Pacer Advisors Inc. now owns 135,668 shares of the company’s stock worth $8,721,000 after buying an additional 125,293 shares during the period. Daiwa Securities Group Inc. boosted its holdings in CarMax by 0.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 21,530 shares of the company’s stock worth $1,384,000 after buying an additional 182 shares during the period. Nisa Investment Advisors LLC boosted its holdings in CarMax by 4.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 87,361 shares of the company’s stock worth $5,616,000 after buying an additional 3,490 shares during the period. Finally, Deepwater Asset Management LLC boosted its holdings in CarMax by 19.9% in the 1st quarter. Deepwater Asset Management LLC now owns 177,180 shares of the company’s stock worth $11,389,000 after buying an additional 29,370 shares during the period.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Evercore ISI raised their price objective on shares of CarMax from $76.00 to $83.00 in a report on Monday, June 26th. StockNews.com started coverage on shares of CarMax in a report on Thursday, May 18th. They issued a “sell” rating for the company. Royal Bank of Canada increased their target price on shares of CarMax from $70.00 to $90.00 in a research note on Monday, June 26th. Wedbush increased their target price on shares of CarMax from $70.00 to $85.00 in a research note on Monday, June 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of CarMax from $55.00 to $60.00 in a research note on Monday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a 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 $76.00.
CarMax Stock Performance
CarMax (NYSE:KMX – Get Free Report) last posted its quarterly earnings data on Friday, June 23rd. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.65. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.49 billion. CarMax had a net margin of 1.64% and a return on equity of 7.46%. The business’s quarterly revenue was down 17.4% on a year-over-year basis. During the same quarter last year, the company posted $1.56 EPS. On average, equities research analysts expect that CarMax, Inc. will post 2.98 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, SVP Jon G. Daniels sold 27,783 shares of CarMax stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $82.42, for a total value of $2,289,874.86. Following the transaction, the senior vice president now owns 7,255 shares in the company, valued at approximately $597,957.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other CarMax news, SVP Jon G. Daniels sold 7,783 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $85.25, for a total value of $663,500.75. Following the sale, the senior vice president now owns 1,525 shares of the company’s stock, valued at approximately $130,006.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jon G. Daniels sold 27,783 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $82.42, for a total transaction of $2,289,874.86. Following the completion of the sale, the senior vice president now directly owns 7,255 shares in the company, valued at approximately $597,957.10. The disclosure for this sale can be found here. Insiders have sold a total of 304,993 shares of company stock worth $25,375,428 in the last 90 days. 1.66% of the stock is owned by company insiders.
CarMax Company Profile
CarMax, Inc, together with its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company offers customers a range of makes and models of used vehicles, including domestic, imported, and luxury vehicles, as well as hybrid and electric vehicles; and extended protection plans to customers at the time of sale, as well as sells vehicles that are approximately 10 years old and has more than 100,000 miles through wholesale auctions.
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